According to a report, it reads that troubles in business activities caused by the second wave of the coronavirus pandemic may bring India Inc revenue down by 8-10 percent sequentially in the June quarter to Rs 7.3 lakh crore. Likewise, operating profit is also expected to log a 6-8 percent drop on a sequential basis, but be at least 65 percent higher year on year, given a low base.

On an annualised basis, however, revenue growth is expected to be buoyant on the lower base to the tune of 45-50 percent, according to an early estimate of the first-quarter earnings season that was kicked by Tata Consultancy Services (TCS) last evening. The premier software company said its domestic revenue dipped by Rs 350 crore, even though overall revenue jumped 18.5 percent to Rs 45,411 crore and net income soared 28.5 per cent to Rs 9,008 crore.

India Inc is likely to report a sequential decline of 8-10 percent in revenue at Rs 7.3 lakh crore for the first quarter of this fiscal, led by consumer discretionary products such as automobiles, which saw volumes impacted by the lockdowns across the states to contain the second wave of the pandemic infections, Crisil said in a note Friday.

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