New Delhi (Business Standard): Amid subdued demand after goods and services (GST) implementation and demonetisation woes, the business confidence in India’s chief financial officers (CFOs) touch one-and-a-half-year low in the July-September period, reveals a survey.
The Composite CFO Optimism Index for Q3FY17 declined by 11 per cent year-on-year and by 5.7 per cent on a quarter-on-quarter basis, says Dun & Bradstreet Composite Optimism Index for Q1 2017.
Only 41 per cent of the CFOs expressed optimism about liquidity position of their companies — the lowest since Q2 (April-June) 2014.
The study, which covered 300 respondents, said that optimism among the CFOs deteriorated more for the financial performance of their companies compared to overall macroeconomic conditions. Fifty-seven per cent of CFOs expects selling prices to remain unchanged.
Optimism on net sales and net profits were found to be lowest in 33 quarters, barring Q1 2017.