Indian Firms Face Prolonged Earnings Downgrades After Lockdown
- Economic disruption clouds prospects for earnings recovery
- EPS growth estimate downgrades seen this year and next
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As the outlook for Indian corporate profits grows increasingly murky under the influence of the coronavirus pandemic, analysts are hunkering down for a protracted series of forecast cuts.
Asia’s third largest economy is set for a near-complete disruption of economic activity for at least 40 days after Prime Minister Narendra Modi extended a nationwide lockdown to prevent the spread of the virus. This has further clouded the prospects for a recovery in company earnings.