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In the last 4-6 quarters, corporations globally have been disrupted largely because of COVID led uncertainty and the ensuing lockdowns which led to an uncertain demand environment and revenue volatility. As COVID restrictions eased over the last 2 quarters, and demand returned back to pre-COVID levels, corporates were faced with supply disruptions leading to increased freight and raw materials cost that ate into the margins and impacted profitability even as sales returned to – or even surpassed – pre-COVID levels.
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