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Amber Enterprises India Ltd Q1FY21 loss at Rs. 22.44 crore

Posted On: 2020-08-08 09:46:28


Amber Enterprises India Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.262.48 crores during the period ended June 30, 2020 as compared to Rs.1315.16 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(22.44) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.62.84 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.(7.14) for the period ended June 30, 2020 as compared to Rs.19.98 for the period ended March 31, 2020.

FinancialsQ1 FY2020-21Q4 FY19-20% Change
Total Income₹ 262.48 crs₹ 1315.16 crsDown Tick -80.04%
Net Profit₹ (22.44) crs₹ 62.84 crsDown Tick -135.71%
EPS₹ (7.14)₹ 19.98Down Tick -135.74%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.262.48 crores during the period ended June 30, 2020 as compared to Rs.1242.06 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.(22.44) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.61.21 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.(7.14) for the period ended June 30, 2020 as compared to Rs.19.47 for the period ended June 30, 2019.

FinancialsQ1 FY2020-21Q1 FY2019-20% Change
Total Income₹ 262.48 crs₹ 1242.06 crsDown Tick -78.87%
Net Profit₹ (22.44) crs₹ 61.21 crsDown Tick -136.66%
EPS₹ (7.14)₹ 19.47Down Tick -136.67%

Commenting on the results and performance for Q1FY21, Mr. Jasbir Singh, Chairman & CEO of Amber Enterprises India Ltd said: "The April to June quarter was impacted due to Covid-19. Due to the lockdown, there were no sales in April. At the start of May, after taking requisite permissions from respective authorities, we resumed operations at our factories with all necessary precautionary hygiene and safety measures.

Various initiatives under consideration by the government under Atmanirbhar Bharat will help boost the local manufacturing. We believe the component industry eco-system will be created to support domestic manufacturing & reduce dependence on imports.

The China + 1 strategy is firming up, not only in the Indian market but also globally. This has opened up domestic as well as huge export opportunities and we have already started receiving enquiries for manufacturing of RAC & various components from companies across the globe.

We believe our Strong Balance Sheet, Large Clientele Base and Increased Penetration in the HVAC industry will allow us to command an edge in the market.

On our Sidwal Business, we are observing a good traction and confident to deliver & maintain a healthy order book going ahead. We have further strengthen our R&D capabilities across verticals and we expect to derive fruitful results in the years to come. We also reiterate our confidence to create long-term shareholder value."

Shares of Amber Enterprises India Ltd was last trading in BSE at Rs.1785.15 as compared to the previous close of Rs. 1688.7. The total number of shares traded during the day was 7978 in over 974 trades.

The stock hit an intraday high of Rs. 1801 and intraday low of 1700. The net turnover during the day was Rs. 14038213.


Source: Equity Bulls

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