Corporate India jittery about Q1 amid a relentless second Covid-19 wave

Restrictions have hurt discretionary, out-of-home categories the most

Early signals from the results of the fourth quarter of FY21 have been encouraging, but corporate India isn't celebrating. Reason: A broad swathe of companies across sectors believe that the first quarter of the current financial year will severely test their resilience amid a relentless second Covid-19 wave that has pushed India to the top of the list of the worst-affected countries in the world.
 
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and