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Car parts suppliers to see 70% drop in functioning revenue in Q1: Icra

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Automobile element market is probably to witness a 70 for every cent decrease in operating gains in the to start with quarter of the recent fiscal because of to disruptions caused by the 2nd wave of COVID-19, as per domestic ratings agency Icra.

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The issues for component brands will be additional compounded by the sharp maximize in commodity prices, which are frequently handed via to primary equipment companies (OEMs) with a lag of 3-6 months, Icra noted.&#13
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“ICRA estimates a profits reduction of 30-40 for every cent quarter

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