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: 73
 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);

    }
$message = '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: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 73,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'catslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 73,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'catslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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 88
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

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: 74
 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);

    }
$message = '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: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 74,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'artileslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 74,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'artileslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
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 88
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')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-trace').style.display = (document.getElementById('cakeErr67fb031f2fece-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fb031f2fece-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-code').style.display = (document.getElementById('cakeErr67fb031f2fece-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-context').style.display = (document.getElementById('cakeErr67fb031f2fece-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fb031f2fece-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67fb031f2fece-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 34758,
		&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4682863,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 34758,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-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...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 34758,
	&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4682863,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 34758
$metaTitle = &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;
$metaKeywords = &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;
$metaDesc = &#039;
-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...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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 88
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</pre></div></pre>latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study | Im4change.org</title>
    <meta name="description" content="
-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..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Small firms flounder post demonetisation, on GST: RBI study</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <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>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$maxBufferLength = (int) 8192
$file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php'
$line = (int) 853
$message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Code Context
            $response->getStatusCode(),

            ($reasonPhrase ? ' ' . $reasonPhrase : '')

        ));
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-trace').style.display = (document.getElementById('cakeErr67fb031f2fece-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fb031f2fece-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-code').style.display = (document.getElementById('cakeErr67fb031f2fece-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-context').style.display = (document.getElementById('cakeErr67fb031f2fece-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fb031f2fece-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67fb031f2fece-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 34758,
		&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4682863,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 34758,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-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...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 34758,
	&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4682863,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 34758
$metaTitle = &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;
$metaKeywords = &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;
$metaDesc = &#039;
-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...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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 88
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</pre></div></pre>latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study | Im4change.org</title>
    <meta name="description" content="
-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..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Small firms flounder post demonetisation, on GST: RBI study</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <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>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$reasonPhrase = 'OK'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Code Context
                    $value

                ), $first);

                $first = false;
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-trace').style.display = (document.getElementById('cakeErr67fb031f2fece-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67fb031f2fece-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-code').style.display = (document.getElementById('cakeErr67fb031f2fece-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67fb031f2fece-context').style.display = (document.getElementById('cakeErr67fb031f2fece-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67fb031f2fece-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67fb031f2fece-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 34758,
		&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4682863,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 34758,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-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...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 34758,
	&#039;title&#039; =&gt; &#039;Small firms flounder post demonetisation, on GST: RBI study&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-The Indian Express&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;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 per cent.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Mumbai: &lt;/em&gt;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). Small
companies 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 of
India said in a study.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
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 per cent. &amp;ldquo;Aggregate sales growth (Y-o-Y) improved
in 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,&amp;rdquo; the&lt;br /&gt;
RBI said.&lt;br /&gt;
&lt;br /&gt;
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. 
&amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;
&lt;br /&gt;
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.&lt;br /&gt;
&lt;br /&gt;
Overall 
industry profits plunged by 15.7 per cent to Rs 87,475 crore in the June
quarter of the current fiscal. &amp;ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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,&amp;rdquo; Care Ratings
said in a report.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4682863,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 34758
$metaTitle = &#039;LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study&#039;
$metaKeywords = &#039;Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)&#039;
$metaDesc = &#039;
-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...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Indian Express&lt;br /&gt;&lt;br /&gt;&lt;em&gt;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.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;&lt;em&gt;Mumbai: &lt;/em&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the&lt;br /&gt;RBI said.&lt;br /&gt;&lt;br /&gt;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. &amp;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,&amp;rdquo; the RBI said.&lt;br /&gt;&lt;br /&gt;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.&lt;br /&gt;&lt;br /&gt;Overall industry profits plunged by 15.7 per cent to Rs 87,475 crore in the Junequarter of the current fiscal. &amp;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,&amp;rdquo; Care Ratingssaid in a report.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot; title=&quot;http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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 88
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</pre></div></pre>latest-news-updates/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study | Im4change.org</title>
    <meta name="description" content="
-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..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Small firms flounder post demonetisation, on GST: RBI study</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <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>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$cookies = []
$values = [
	(int) 0 => 'text/html; charset=UTF-8'
]
$name = 'Content-Type'
$first = true
$value = 'text/html; charset=UTF-8'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

<head>

    <link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>

    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>

$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
	'article_current' => object(App\Model\Entity\Article) {

		'id' => (int) 34758,
		'title' => 'Small firms flounder post demonetisation, on GST: RBI study',
		'subheading' => '',
		'description' => '<div align="justify">
-The Indian Express<br />
<br />
<em>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 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). Small
companies 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 of
India 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 />
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 per cent. &ldquo;Aggregate sales growth (Y-o-Y) improved
in 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 June
quarter of the current fiscal. &ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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 Ratings
said 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/">click here</a> to read more. <br />
</div>',
		'credit_writer' => 'The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/',
		'article_img' => '',
		'article_img_thumb' => '',
		'status' => (int) 1,
		'show_on_home' => (int) 1,
		'lang' => 'EN',
		'category_id' => (int) 16,
		'tag_keyword' => '',
		'seo_url' => 'small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863',
		'meta_title' => null,
		'meta_keywords' => null,
		'meta_description' => null,
		'noindex' => (int) 0,
		'publish_date' => object(Cake\I18n\FrozenDate) {},
		'most_visit_section_id' => null,
		'article_big_img' => null,
		'liveid' => (int) 4682863,
		'created' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'edate' => '',
		'tags' => [
			[maximum depth reached]
		],
		'category' => object(App\Model\Entity\Category) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[hasErrors]' => false,
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'Articles'
	
	},
	'articleid' => (int) 34758,
	'metaTitle' => 'LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study',
	'metaKeywords' => 'Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)',
	'metaDesc' => '
-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...',
	'disp' => '<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>',
	'lang' => 'English',
	'SITE_URL' => 'https://im4change.in/',
	'site_title' => 'im4change',
	'adminprix' => 'admin'
]
$article_current = object(App\Model\Entity\Article) {

	'id' => (int) 34758,
	'title' => 'Small firms flounder post demonetisation, on GST: RBI study',
	'subheading' => '',
	'description' => '<div align="justify">
-The Indian Express<br />
<br />
<em>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 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). Small
companies 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 of
India 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 />
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 per cent. &ldquo;Aggregate sales growth (Y-o-Y) improved
in 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 June
quarter of the current fiscal. &ldquo;The overall performance has been driven
by the large companies that accounted for over 75 per cent of the share
in 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 Ratings
said 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/">click here</a> to read more. <br />
</div>',
	'credit_writer' => 'The Indian Express, 27 August, 2017, http://indianexpress.com/article/business/business-others/small-firms-flounder-post-demonetisation-on-gst-rbi-study-4815333/',
	'article_img' => '',
	'article_img_thumb' => '',
	'status' => (int) 1,
	'show_on_home' => (int) 1,
	'lang' => 'EN',
	'category_id' => (int) 16,
	'tag_keyword' => '',
	'seo_url' => 'small-firms-flounder-post-demonetisation-on-gst-rbi-study-4682863',
	'meta_title' => null,
	'meta_keywords' => null,
	'meta_description' => null,
	'noindex' => (int) 0,
	'publish_date' => object(Cake\I18n\FrozenDate) {},
	'most_visit_section_id' => null,
	'article_big_img' => null,
	'liveid' => (int) 4682863,
	'created' => object(Cake\I18n\FrozenTime) {},
	'modified' => object(Cake\I18n\FrozenTime) {},
	'edate' => '',
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {}
	],
	'category' => object(App\Model\Entity\Category) {},
	'[new]' => false,
	'[accessible]' => [
		'*' => true,
		'id' => false
	],
	'[dirty]' => [],
	'[original]' => [],
	'[virtual]' => [],
	'[hasErrors]' => false,
	'[errors]' => [],
	'[invalid]' => [],
	'[repository]' => 'Articles'

}
$articleid = (int) 34758
$metaTitle = 'LATEST NEWS UPDATES | Small firms flounder post demonetisation, on GST: RBI study'
$metaKeywords = 'Currency demonetisation,Demonetisation,Goods and Services Tax,Goods and Services Tax (GST)'
$metaDesc = '
-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...'
$disp = '<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>'
$lang = 'English'
$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
$adminprix = 'admin'

include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
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 88
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

Small firms flounder post demonetisation, on GST: RBI study

-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.