₹25 crore recorded the sharpest contraction in sales of around 67% from April to June 2020. What lies behind this? Mint takes a look.
Small businesses have been hit the most by the spread of covid-19, data from CARE Ratings confirms. Listed companies with sales of less than ₹25 crore recorded the sharpest contraction in sales of around 67% from April to June 2020.
What lies behind this? Mint takes a look.What does size-wise analysis of firms say?Economist Sushant Hede of CARE Ratings analyzed the earnings of a total of 1,686 companies.
Among them, 747 firms had net sales of less than ₹25 crore in April-June 2020. These companies saw their sales decline by 66.7% between April to June this year, in comparison to the same period in 2019.
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