Covid-19 impact: Six of the top 10 family-owned businesses in the red

Top family-owned business houses were badly hit in the January-March 2020 quarter, especially those with large exposures to telecom and commodity businesses such as oil, gas, metal, and mining.   The fourth quarter saw six of India’s 10 largest family-owned groups (in terms of revenues) reporting pre-tax losses at group level. The combined revenues, too, were down 9.5 per cent year-on-year (YoY), one of their worst performances in many years.   Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a.....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.