Table 4

Earnings and loss of earnings during normal times and the pandemic

Old city(in INR.)New city(in INR.)t-test
Average per day sales during normal times(pre-covid)[in INR]2,785(1449.23)3561.49(2243.11)***
Average per day sales during lockdown period 1 [in INR]701(716.23)656(947.26)NS
Average per day sales during lockdown period 2 [in INR]1,317(1078.91)1,973(1647.10)***
Average per day loss of revenue during lockdown period 1[in INR]2,084(1147.19)2905.17(2271.15)**
Average per day loss of revenue during lockdown period 2[in INR]1,468(908.19)1587.9(1790.74)NS
Percentage of loss in lockdown 1 to the normal per day earning75%80%*
Percentage of loss in lockdown 2 to the normal per day earning52%42%***
Total sales revenue loss during complete closure of their business229192.5 (294782.9)351508.6 (39551.75)***

Note(s): 1) We have dropped 6 observations in the new city, since they migrated after COVID, so, no data on the earning in normal period could be collected and hence losses could not be calculated. Further, 7 were outliers because of the quick increase in the business during the pre-COVID time, the consumer base for these food joints are very high, though they sell in carts. To assume away the effects of these outliers on the sales and loss we have considered 87 observation from the new city and hence the total number of observations considered here is 187

2) ***, ** and* signifies that the test is significant at 1%, 5% and 10% level respectively, 3) Figures in the parenthesis indicate S.D. NS indicates that the statistical test is not significant

Source(s): Primary survey
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