Amber Enterprises plunges nearly 20% after weak Q4 performance

NEW DELHI: Shares of Amber Enterprises India Ltd fell nearly 20 per cent to around Rs 2,710 on Monday after the company reported poor performance for the March 2022 quarter.
Amber Enterprises reported a 46.59 per cent decline in net profit to Rs 32.39 crore in the quarter as against Rs 60.64 crore in the previous quarter.
"Geopolitical tensions have led to inflationary pressure on commodity prices and the covid induced lockdowns in China has led to supply chain disruptions which has further added to the pain of the economy. Despite this, we have been able to pass on majority of price increases and have been largely able to maintain our profitability," Jasbir
Singh, chairman & CEO of Amber Enterprises said.
Strong pent-up demand and an overall increase in consumer sentiment will drive revenue growth for the company, he said. The company, which is a prominent player in the domestic room air conditioner industry, said the arrival of the early summer will also drive growth. "We believe the available opportunities will boost our position in domestic market while also providing a solid foundation for exports market going forward," he said.
The company has multiple manufacturing facilities across India.
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