Automotive companies are expected to report strong revenue growth of 17-18 per cent, resulting in earnings before interest, taxes, depreciation and amortisation (Ebitda) improvement of 36 per cent during the third quarter of 2023-24 (FY24).
This would be led by double-digit volume growth by two-wheeler original equipment manufacturers (OEMs), and continued surge in the passenger vehicle (PV) segment. The margins would also be helped by benign commodity prices, analysts feel.
Prabhudas Lilladher analysts said that during the third quarter, the auto industry witnessed overall strong double-digit growth in volumes of 17 per cent. It is on the back of strong