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Demonetisation to drag corporates' Q3 gross revenues to 4 pc: Crisil
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SME Times News Bureau | 11 Jan, 2017
The impact of demonetisation is
expected to drag the revenues of the corporate sector to 4 per cent
from an average of 6.3 per cent in the preceding three quarters, rating
agency Crisil said on Tuesday.
"For the third quarter ended
December 31, 2016, corporate topline growth is seen declining to 4 per
cent because of demonetisation. In the three quarters preceding, revenue
growth had ticked up to an average 6.3 per cent," Crisil said in a
statement here.
"Crisil also foresees the impact of
demonetisation continuing into the fourth quarter of the current fiscal.
However, the pace of growth in Q4 will still recover to 5-7 per cent,"
it added.
The analysis - excluding banking, financial services
and insurance (BFSI) and oil companies - took into account expected
results of 390 companies, which account for 64 per cent of the market
capitalisation of the National Stock Exchange listed companies.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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