 "Demonetisation to drag corporates' Q3 gross revenues to 4%: Crisil")
The impact of demonetisation is expected to drag the revenues of the corporate sector to four per cent from an average of 6.3 per cent in the preceding three quarters, rating agency Crisil said on Tuesday.
"For the third quarter ended December 31, 2016, corporate topline growth is seen declining to four per cent because of demonetisation. In the three quarters preceding, revenue growth had ticked up to an average 6.3 per cent," Crisil said in a statement here.
"Crisil also foresees the impact of demonetisation continuing into the fourth quarter of the current fiscal. However, the pace of growth in Q4 will still recover to five to seven per cent," it added.
The analysis - excluding banking, financial services and insurance (BFSI) and oil companies - took into account expected results of 390 companies, which account for 64 per cent of the market capitalisation of the National Stock Exchange listed companies.