Moneycontrol
Jan 03, 2017 02:53 PM IST | Source: CNBC-TV18

Demonetisation wiped out monsoon gains: Shakti Pumps

Demonetisation impacted many retail industries including ours, said Akhilesh Maru, CFO, Shakti Pumps.

Demonetisation impacted many retail industries including ours, said Akhilesh Maru, CFO, Shakti Pumps. In an interview to CNBC-TV18 Mr Maru said demonetisation impacted domestic demand negatively. However, the impact was offset by exports which form a significant chunk of its portfolio, he said.

He further said that the company had expected good growth from domestic market, which comprises 40 percent of its business, on account of monsoon but demonetisation wiped off the projected gains.

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