Amber Enterprises reported a net loss of ₹32 crore in the September quarter compared to a net profit of ₹21 crore in the year-ago period. Revenue from operations during the quarter was down marginally by 2 per cent y-o-y to ₹1,647 crore.

In a statement, Daljit Singh, Managing Director, Amber Enterprises said, “The residential air-conditioner industry got impacted by non-conducive weather and deferment of purchase in- between announcement & implementation of GST rate reduction, despite the challenges we delivered flattish revenue. The PAT during the period got further impacted by the higher financing cost owing to Power-One stake purchase & elevated inventory levels; and share of loss of JVs. On way forward, inventories are getting to the normalised levels.”

He added that GST reforms and

See Full Page