State Bank of India’s research report Ecowrap expects GDP to contract by 16.5% in the first quarter of the current fiscal.
Earlier in May, Ecowrap had estimated Q1 GDP contraction at over 20% and now pegs it lower, “though with the relevant caveats in the current uncertain scenario”, as per the report released on Monday.
Degrowth in corporate GVA had been significantly better than revenue degrowth in Q1 as far as the results of listed companies were concerned, it said.
The results indicate a more than 25% slump in topline. However, the drop in corporate gross value added (GVA) was only 14.1%, the research team wrote.
Published - August 17, 2020 09:30 pm IST
