Covid-19 impact: Nifty50 scorecard shows worst profit slump in 6 years

The world’s biggest lockdown has cost India millions of jobs, resulted in record low economic activity, and fueled the biggest earnings decline in at least six years.
 

Profits at NSE Nifty 50 Index members fell about 15% last quarter from the same period last year, the worst drop since at least 2014, according to Bloomberg-compiled data. About two thirds of the firms in index have announced results for the March quarter so far. Communications, energy and industrials recorded the steepest declines on an adjusted basis.