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.....

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