78% of firms report sales are 'somewhat or much less than normal': IIM-A survey

Sales level: % response

By A Representative
The latest Business Inflation Expectations Survey (BIES) has said that while around 46% of the firms in August 2019 reported increase in costs has been more than 3%, down from 49% in July 2019 and 55% in June 2019, and the proportion of firms perceiving significant cost increase (more than 6%) declined sharply to 23% from 29% reported in July 2019, the situation has worsened insofar as sales and profits are concerned.
Thus, says the BIES report, prepared under the directions of Prof Abhiman Das of the Indian Institute of Management-Ahmedabad (IIM-A) by taking responses from over 1600 companies, “In August 2019, over three fourths of the firms (77.6%, highest ever since the inception of the survey in May 2017) in the sample reported that sales are ‘somewhat or much less than normal’. This proportion has increased significantly since June 2019.”

Profit margins: % response

It adds, “The proportion of firms in the sample reporting ‘much less than normal’ profit margins has increased further to over 54% in August 2019. It may be mentioned that this proportion had crossed 50% mark for the first time in June 2019. Overall, the profit margin scenario has further deteriorated in August 2019.”

Comments

An open letter to PM: Before you forgive, ask for forgiveness

By Martin Macwan* Respected Prime Minister, The first step toward true forgiveness is asking for it, and it is out of respect for the Constitution that the title "Honourable" is used for the office of the Prime Minister. Every abuse is "dirty" because almost all abuse is uttered with the conscious intention of publicly humiliating a woman, much like the disrobing of Draupadi in the royal court. This includes remarks like "Jersey Cow," used at public meetings on the Gujarati land of Gandhi and Sardar; comparing a female MP's laughter in India's Parliament to "Surpanakha's laugh"; and using a vulgar address like "Didi O Didi" for a Chief Minister who holds a respected position in a democracy—along with every other such remark. In the 79-year history of independent India, you are better placed than anyone to say which Prime Minister has used such language against women.

A fearless spirit lost: Rebecca Thomson dies at 17-hour Catalina Swim Mark

By Harsh Thakor On July 26, 2020, Rebecca “Becky” Thomson suffered cardiac arrest while attempting the Catalina Channel Swim — a marathon open water crossing from Catalina Island to the California mainland. After swimming for 17 hours, Thomson collapsed in the water. Despite the painstaking efforts of emergency responders and the medical staff at Harbor-UCLA Medical Center, she succumbed to a devastating hypoxic brain injury and died Friday evening.

Bihar’s land at ₹1 per acre for Adani sparks outrage, NAPM calls it crony capitalism

By A Representative The National Alliance of People’s Movements (NAPM) has strongly condemned the Bihar government’s decision to lease 1,050 acres of land in Pirpainti, Bhagalpur district, to Adani Power for a 2,400 MW coal-based thermal power project.

Counterview

Search This Blog