Wednesday , 12 August 2020
Breaking News

77% companies face revenue drop amid Covid pandemic: report

New Delhi: Around 77 per cent business organisations have witnessed a drop in their revenue as a result of the ongoing COVID-19 crisis, according to a recent global survey.

As per a joint survey by 720 Transform of Dubai, Prophecy FZLLC-Middle East and India-based Insights3D, around 7 per cent firms in India and the Middle East have registered an upward revenue growth, while about 16 per cent of the companies remained unaffected.  

Around 282 executives, including CEOs and MDs from across industry segments were interviewed for the survey. 

Out of the negatively impacted companies which recorded fall in revenue, 30 per cent companies logged an over 50 per cent drop while another 30 per cent firms recorded 30-50 per cent decline.

The report said that around 30 per cent of the companies surveyed will need to undertake drastic measures such as higher levels of rationalisation, sale or merger. 

Most leaders foresee a new normal in terms of remote working and decentralisation.

Check Also

NATIONAL SCAN

Renowned Urdu poet Rahat Indori dies in Indore hospital INDORE: Famous Urdu poet Rahat Indori, …