‘India Inc profits to dip in next two quarters’

NCAER on Friday said the short-term business outlook remained stagnated and profits of India Inc were expected to take a marginal dip in the next two quarters. ‘‘In line with the downswing in business confidence, firms in this round have marginally lowered their projections for both sales and production for the next six months,’’ it said in its latest report on business sentiment.

‘‘Thus, the business outlook is one of the near stagnation in output in the next six months,’’ it said, adding as a result firms are expecting their pre-tax profits to go down marginally in the next month. NCAER said the downward assessment of the overall economic conditions and financials has adversely affected the perception of the investment climate. — PTI