Varroc Engineering tumbles 11% on weak March quarter results

The company's global (Ex China) passenger vehicle volumes in Q4FY21 declined mainly due to severe semi-conductor shortages

Shares of Varroc Engineering dipped 11 per cent to Rs 387.30 on the BSE in intra-day trade on Monday after the company reported a weak set of number for the March quarter of FY21 with a consolidated loss of Rs 144 crore, due to weak operational performance of the Global Lighting Business (VLS). The auto ancilaliry company had posted loss of Rs 137 crore in Q4FY20.

The company’s reported revenue from operations grew 32 per cent year on year (YoY) to Rs 3,619 crore against Rs 2,745 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest,