India’s intense summer heat added to companies’ challenges alongside slowing earnings and supply chain disruptions. The heatwave was mentioned 80 times in earnings calls for the June quarter, compared to seven the previous year. Retailers, construction firms, and lenders were notably affected. The situation is expected to worsen as climate change intensifies extreme weather conditions. Zomato Ltd said the heatwave was one of the factors that led to sequentially lower margins.
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