Q1 FY21 corporate performance mimics record GDP contraction
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During Q1 FY21 aggregate net sales of companies fell sharply by (-) 25.3 per cent. Net sales registered a contraction of (-) 25.3 per cent in Q1-FY21 compared to 5.7 per cent growth in the corresponding period last year. This reflects the stress on the finances of companies owing to COVID-19 pandemic and the subsequent lockdown.