Amtek Auto pegs loss at Rs 308 crore for Q4 FY2017
Auto component maker Amtek Auto has reported a consolidated loss of Rs 308 crore in its Q4 FY2017.
12 Jun 2017
8150 Views
Share -
Amtek Auto, part of the integrated component manufacturer Amtek Group, announced its Q4 FY2017 results posting a loss of Rs 308 crore, a decrease of 45 percent (Q4 FY2016: Rs 563 crore).
FY 2016-17 saw the standalone losses pegged at Rs 1,624 crore mainly due to high finance cost of Rs 1,305 crore for the year.
The company has been trying to reduce debts by sale of certain overseas and domestic assets, with the total debt estimated to be around Rs 13,000 crore.
Focus on cost optimization and strengthening of sales was the key focus for the company to improve its international operations, stated an earlier media release.
RELATED ARTICLES
GST On Hybrid vehicle is high, moving to BEVs in line with Government's direction: Takuya Tsumura, President and CEO, Honda Cars India
Autocar Pro News Desk
06 Jun 2023
Unveiling the new global mid-size SUV, Honda Cars India management stated that they have no plans for a hybrid powertrai...
Kia Seltos crosses 5 lakh milestone
Autocar Pro News Desk
06 Jun 2023
Seltos has contributed 55% of the company’s net sales including exports and domestic sales consumption.
Simple Energy starts deliveries of its Super EV – Simple ONE
Autocar Pro News Desk
06 Jun 2023
Launched at Rs 1,45,000 (Ex-Showroom, Bengaluru), the new Super EV has received more than 1,00,000 bookings.
