Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study    </title>
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-The Indian Express

The RBI which studied
the results of 2,726 non-government and non-financial companies said 
the overall EBIDTA of these corporate showed a 0.2 per cent increase. 
However, net profit declined by 6.9 per cent even as sales improved by 
7.2..."/>
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-The Indian Express

The RBI which studied
the results of 2,726 non-government and non-financial companies said 
the overall EBIDTA of these corporate showed a 0.2 per cent increase. 
However, net profit declined by 6.9 per cent even as sales improved by 
7.2..." />
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                            <div align="justify">-The Indian Express<br /><br /><em>The RBI which studiedthe results of 2,726 non-government and non-financial companies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent.</em><br /><br /><em>Mumbai: </em>Small companies are finding the going tough with sales and profits taking a big beating in the wake of demonetisation and implementation of Goods and Services Tax (GST). Smallcompanies with a turnover of less than Rs 25 crore reported a 57.6 per cent fall in sales for the quarter ended March 2017, the Reserve Bank ofIndia said in a study.<br /><br />The RBI study said 726 small companies reported a 122.3 per cent plunge in EBIDTA (earnings before interest depreciation, taxation and amortisation) for the March quarter. While the RBI did not provide any specific reason for the sharp fall in sales and profits of small companies, corporate circles estimate that withdrawal of Rs 500 and Rs 1,000 notes on November 8, 2016 led to liquidity shortage and impacted the business of small companies the most.<br /><br />On the other hand, the RBI study said big corporate with turnover of Rs 1,000 crore and above reported a 9.5 per cent rise in sales for the March 2017 quarter. EBIDTA of big companies rose by 2.1 per cent during the period, indicating that big corporates managed to weather demonetisation woes while small companies floundered.<br /><br />TheRBI which studied the results of 2,726 non-government and non-financialcompanies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent. &ldquo;Aggregate sales growth (Y-o-Y) improvedin 2016-17, primarily for the manufacturing sector, led by some of the major industries like iron and steel, petroleum products and cement and cement products,&rdquo; the<br />RBI said.<br /><br />Sales of services sector companies (other than IT), however, contracted due to poor performance of real estate and wholesale and retail trade companies, it said. The information technology (IT) sector witnessed moderation in sales growth.Interest expenses decelerated in 2016-17 for the manufacturing sector. &ldquo;Within the manufacturing sector, the iron and steel industry experienced lower growth of interest expenses than in the previous year,while the motor vehicles industry witnessed a significant increase in interest expenses,&rdquo; the RBI said.<br /><br />The GST implementation from July has further exacerbated the woes of small companies in the June quarter. Small companies bore the brunt of the GST regime with profits plunging as much as 78 per cent in the quarter ended June. This is largely owing to destocking of goods by companies before execution of GST regime from July 1, rating agency Care Ratings said.<br /><br />Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &ldquo;The overall performance has been drivenby the large companies that accounted for over 75 per cent of the sharein terms of total net sales. They recorded lower net profits of about 23.2 per cent y-o-y in Q1 FY18. Those at the lower end of the size scales witnessed negative growth in both sales and profit,&rdquo; Care Ratingssaid in a report.<br /><br />Please <a href="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/" title="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/" class="re" target="_blank">The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/</a><div class="clear"></div>
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    <h1 class="cat-box-title">Small firms flounder post demonetisation, on GST: RBI study</h1>
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                            <div align="justify">-The Indian Express<br /><br /><em>The RBI which studiedthe results of 2,726 non-government and non-financial companies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent.</em><br /><br /><em>Mumbai: </em>Small companies are finding the going tough with sales and profits taking a big beating in the wake of demonetisation and implementation of Goods and Services Tax (GST). Smallcompanies with a turnover of less than Rs 25 crore reported a 57.6 per cent fall in sales for the quarter ended March 2017, the Reserve Bank ofIndia said in a study.<br /><br />The RBI study said 726 small companies reported a 122.3 per cent plunge in EBIDTA (earnings before interest depreciation, taxation and amortisation) for the March quarter. While the RBI did not provide any specific reason for the sharp fall in sales and profits of small companies, corporate circles estimate that withdrawal of Rs 500 and Rs 1,000 notes on November 8, 2016 led to liquidity shortage and impacted the business of small companies the most.<br /><br />On the other hand, the RBI study said big corporate with turnover of Rs 1,000 crore and above reported a 9.5 per cent rise in sales for the March 2017 quarter. EBIDTA of big companies rose by 2.1 per cent during the period, indicating that big corporates managed to weather demonetisation woes while small companies floundered.<br /><br />TheRBI which studied the results of 2,726 non-government and non-financialcompanies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent. &ldquo;Aggregate sales growth (Y-o-Y) improvedin 2016-17, primarily for the manufacturing sector, led by some of the major industries like iron and steel, petroleum products and cement and cement products,&rdquo; the<br />RBI said.<br /><br />Sales of services sector companies (other than IT), however, contracted due to poor performance of real estate and wholesale and retail trade companies, it said. The information technology (IT) sector witnessed moderation in sales growth.Interest expenses decelerated in 2016-17 for the manufacturing sector. &ldquo;Within the manufacturing sector, the iron and steel industry experienced lower growth of interest expenses than in the previous year,while the motor vehicles industry witnessed a significant increase in interest expenses,&rdquo; the RBI said.<br /><br />The GST implementation from July has further exacerbated the woes of small companies in the June quarter. Small companies bore the brunt of the GST regime with profits plunging as much as 78 per cent in the quarter ended June. This is largely owing to destocking of goods by companies before execution of GST regime from July 1, rating agency Care Ratings said.<br /><br />Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &ldquo;The overall performance has been drivenby the large companies that accounted for over 75 per cent of the sharein terms of total net sales. They recorded lower net profits of about 23.2 per cent y-o-y in Q1 FY18. Those at the lower end of the size scales witnessed negative growth in both sales and profit,&rdquo; Care Ratingssaid in a report.<br /><br />Please <a href="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/" title="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/" class="re" target="_blank">The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/</a><div class="clear"></div>
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-The Indian Express

The RBI which studied
the results of 2,726 non-government and non-financial companies said 
the overall EBIDTA of these corporate showed a 0.2 per cent increase. 
However, net profit declined by 6.9 per cent even as sales improved by 
7.2..." />
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                            <div align="justify">-The Indian Express<br /><br /><em>The RBI which studiedthe results of 2,726 non-government and non-financial companies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent.</em><br /><br /><em>Mumbai: </em>Small companies are finding the going tough with sales and profits taking a big beating in the wake of demonetisation and implementation of Goods and Services Tax (GST). Smallcompanies with a turnover of less than Rs 25 crore reported a 57.6 per cent fall in sales for the quarter ended March 2017, the Reserve Bank ofIndia said in a study.<br /><br />The RBI study said 726 small companies reported a 122.3 per cent plunge in EBIDTA (earnings before interest depreciation, taxation and amortisation) for the March quarter. While the RBI did not provide any specific reason for the sharp fall in sales and profits of small companies, corporate circles estimate that withdrawal of Rs 500 and Rs 1,000 notes on November 8, 2016 led to liquidity shortage and impacted the business of small companies the most.<br /><br />On the other hand, the RBI study said big corporate with turnover of Rs 1,000 crore and above reported a 9.5 per cent rise in sales for the March 2017 quarter. EBIDTA of big companies rose by 2.1 per cent during the period, indicating that big corporates managed to weather demonetisation woes while small companies floundered.<br /><br />TheRBI which studied the results of 2,726 non-government and non-financialcompanies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent. &ldquo;Aggregate sales growth (Y-o-Y) improvedin 2016-17, primarily for the manufacturing sector, led by some of the major industries like iron and steel, petroleum products and cement and cement products,&rdquo; the<br />RBI said.<br /><br />Sales of services sector companies (other than IT), however, contracted due to poor performance of real estate and wholesale and retail trade companies, it said. The information technology (IT) sector witnessed moderation in sales growth.Interest expenses decelerated in 2016-17 for the manufacturing sector. &ldquo;Within the manufacturing sector, the iron and steel industry experienced lower growth of interest expenses than in the previous year,while the motor vehicles industry witnessed a significant increase in interest expenses,&rdquo; the RBI said.<br /><br />The GST implementation from July has further exacerbated the woes of small companies in the June quarter. Small companies bore the brunt of the GST regime with profits plunging as much as 78 per cent in the quarter ended June. This is largely owing to destocking of goods by companies before execution of GST regime from July 1, rating agency Care Ratings said.<br /><br />Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &ldquo;The overall performance has been drivenby the large companies that accounted for over 75 per cent of the sharein terms of total net sales. They recorded lower net profits of about 23.2 per cent y-o-y in Q1 FY18. Those at the lower end of the size scales witnessed negative growth in both sales and profit,&rdquo; Care Ratingssaid in a report.<br /><br />Please <a href="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/" title="http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/">click here</a> to read more. <br /></div>                                                           
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Small firms flounder post demonetisation, on GST: RBI study

Published on Sep 28, 2017   Modified on Sep 28, 2017

-The Indian Express The RBI which studiedthe results of 2,726 non-government and non-financial companies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent. Mumbai: Small companies are finding the going tough with sales and profits taking a big beating in the wake of demonetisation and implementation of Goods and Services Tax (GST). Smallcompanies with a turnover of less than Rs 25 crore reported a 57.6 per cent fall in sales for the quarter ended March 2017, the Reserve Bank ofIndia said in a study. The RBI study said 726 small companies reported a 122.3 per cent plunge in EBIDTA (earnings before interest depreciation, taxation and amortisation) for the March quarter. While the RBI did not provide any specific reason for the sharp fall in sales and profits of small companies, corporate circles estimate that withdrawal of Rs 500 and Rs 1,000 notes on November 8, 2016 led to liquidity shortage and impacted the business of small companies the most. On the other hand, the RBI study said big corporate with turnover of Rs 1,000 crore and above reported a 9.5 per cent rise in sales for the March 2017 quarter. EBIDTA of big companies rose by 2.1 per cent during the period, indicating that big corporates managed to weather demonetisation woes while small companies floundered. TheRBI which studied the results of 2,726 non-government and non-financialcompanies said the overall EBIDTA of these corporate showed a 0.2 per cent increase. However, net profit declined by 6.9 per cent even as sales improved by 7.2 per cent. “Aggregate sales growth (Y-o-Y) improvedin 2016-17, primarily for the manufacturing sector, led by some of the major industries like iron and steel, petroleum products and cement and cement products,” the RBI said. Sales of services sector companies (other than IT), however, contracted due to poor performance of real estate and wholesale and retail trade companies, it said. The information technology (IT) sector witnessed moderation in sales growth.Interest expenses decelerated in 2016-17 for the manufacturing sector. “Within the manufacturing sector, the iron and steel industry experienced lower growth of interest expenses than in the previous year,while the motor vehicles industry witnessed a significant increase in interest expenses,” the RBI said. The GST implementation from July has further exacerbated the woes of small companies in the June quarter. Small companies bore the brunt of the GST regime with profits plunging as much as 78 per cent in the quarter ended June. This is largely owing to destocking of goods by companies before execution of GST regime from July 1, rating agency Care Ratings said. Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. “The overall performance has been drivenby the large companies that accounted for over 75 per cent of the sharein terms of total net sales. They recorded lower net profits of about 23.2 per cent y-o-y in Q1 FY18. Those at the lower end of the size scales witnessed negative growth in both sales and profit,” Care Ratingssaid in a report. Please click here to read more.

The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/

Tagged with: Currency demonetisation Demonetisation Goods and Services Tax Goods and Services Tax (GST)

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