Q4 a red quarter for most of India Inc despite just seven days of lockdown

Except for finance and software players, companies report a combined loss of Rs 2,700 crore in Q4, the first in at least 24 quarters

India’s mainstream companies, excluding lenders and software services, reported combined pre-tax losses during the January-March period (Q4) for the first time in at least 24 quarters. Though India was under lockdown for only seven days of the quarter, global demand and commodity prices began falling from February as Covid-19 was spreading in other countries. As a result, several manufacturers, especially of commodities, reported losses.

Together, these 1,002 listed companies — excluding banks, non-bank lenders, insurers, brokerages, and information technology (IT) firms — reported a combined pre-tax loss of around Rs 2,700 crore during Q4. These firms had combined profit before tax