It concluded by saying that strong demand for the services, Indian rupee depreciation, and cost-control measures, such as salary freezes during downturns, support stable profitability.

The company witnessed substantial growth in pre-sales for Q2FY21 at Rs 200 crore, up by 98 per cent on a QoQ basis and up by 96 per cent on a YoY basis.

 There was a sharp rise in outstanding business at the companies operating in the Indian services sector at the end of the second quarter of the fiscal year 2020-21. Moreover, the rate of backlog accumulation was little-changed from August's survey record.

For FY21, it expects the revenue of its sample to decline by 18-20 per cent YoY, against the backdrop of 11 per cent contraction in GDP.

The GAP business delivered revenues of Rs 182 crore (4.7 per cent of AFL's consolidated turnover) with a PBT loss of Rs 34 crore in FY20.

According to the report, auto ancillaries with high exposure to the commercial vehicle segment are expected to continue to be the worst impacted, especially those with a higher two-wheeler, passenger vehicle, or tractor segment exposures.

On capital adequacy, the company's capital-to-risk ratio, consisting of tier I and tier II capital was 24.4 per cent as against 18.9 per cent by June 2019, which was higher than the regulatory requirement. The company's focus on non-discretionary and digital spends translated into healthy loans to Rs 23,300 crore.

TRAI Chief said while every sector has its share of ups & downs and variations, the telecom industry has steered through the troublesome period during the pandemic, handling not only the spike in demand but also the changes in the pattern of traffic, as network loads shifted from enterprise premises to homes. 

The data showed that the sectors, which attracted foreign inflows during the first quarter of 2020-21 included services (USD 1.14 billion), computer software & hardware (USD 1.06 billion), telecommunications (USD 2 million), automobile (USD 326 million), and trading (USD 426 million).

 It further said the modality of vehicle financing in a battery-swappable model, where the core battery is owned/leased by a third party and financiers only have control over the residual vehicle, is another challenge.