 "automobile, auto industry, auto brands, cars")
Earnings of automobile companies in the April-June quarter (Q1) of 2019-20 (FY20) are likely to be severely hit by poor sales volumes in the three months. The sales in this quarter are among the worst in over a decade.
A poll of five brokerages — Motilal Oswal, Edelweiss Securities, Antique Broking, Citi and Prabhudas Lilladher — estimate that the combined net profit of auto companies will drop by a third and net sales revenue will decline 10.5 per cent year on year (YoY).
The current quarter, July-September (Q2), is unlikely to bring much relief as low consumer sentiment continues to
