Revenue from operations, meanwhile, declined 35 per cent to Rs 408 crore from Rs 623 crore in the corresponding quarter of previous fiscal. The lower demand in room air conditioning (RAC) segment led to subdued revenues for Q2FY21.
However, after almost a washedout Q1FY21, Amber Enterprise reported a good recovery in topline led by increase in the sales of RAC and component and mobility division respectively.
The management said RAC, consumer durable and electronics industry have witnessed a positive momentum in Q2FY21. The channel inventory levels are back to normalized levels and should anticipate good growth for October-March (H2FY21).
According to a recent notification by the Directorate General of Foreign Trade (DGFT), imports of air conditioners with refrigerants have been prohibited. The management believes this will open up opportunities for domestic manufacturing as now importing completely build units (CBU’s) without refrigerants will be cost ineffective.