Federal-Mogul Goetze drops after dismal Q4 earnings

Federal-Mogul Goetze (India) skid 3.67% to Rs 333.35 after the company reported consolidated net loss of Rs 4.21 crore in Q4 FY21 compared with net profit of Rs 3.18 crore in Q4 FY20.

Net sales surged 60.7% to Rs 376.32 crore in Q4 FY21 from Rs 234.22 crore in Q4 FY20. Pre-tax loss stood at Rs 0.18 crore in Q4 FY21 as against a pre-tax profit of Rs 6.15 crore in Q4 FY20.

During the financial year, Federal-Mogul Goetze (India)'s consolidated net profit slumped 87.26% to Rs 4.93 crore on 2% increase in revenue from operations to Rs 1,107.16 crore in FY 2021 over FY 2020.

Federal-Mogul Goetze (India) is a manufacturer of pistons, piston rings, sintered parts and cylinder liners covering a wide range of applications including two/three-wheelers, cars, SUVs, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines. It also exports its products to many countries.

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