The latest trigger for the downward trend has been weaker-than-expected September quarter (Q2 FY25) results.
A muted operating performance in the quarter resulted in the stock falling over 8 percent over the past couple of trading sessions.
The company's operating profit margin slipped by 80 basis points on a sequential basis to 8.8 percent and was lower than street expectations.
In addition to seasonality, the lower profitability was on account of slowdown in the global passenger vehicle sector and slow ramp-up in electric vehicles.
On the revenue front, the auto parts company posted 18 percent growth in consolidated revenues in the quarter on the back of its inorganic acquisitions while revenue on an organic business was 4-5 percent over the year-ago quarter.
The company outperformed its peers as the global light vehicle industry fell by 5 percent during this period.
Denne historien er fra November 15, 2024-utgaven av Business Standard.
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Denne historien er fra November 15, 2024-utgaven av Business Standard.
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