homevideos Newsearnings NewsSemiconductor situation easing off; expect things to get back to normal levels by 2022 end: Varroc
Semiconductor situation easing off; expect things to get back to normal levels by 2022 end: Varroc
Semiconductor supply situation, which was mainly contributing to the lower original equipment manufacturer (OEM) volumes and lower revenues, is starting to ease off gradually, said TR Srinivasan, Group CFO at Varroc.
Semiconductor supply situation, which was mainly contributing to the lower original equipment manufacturer (OEM) volumes and lower revenues, is starting to ease off gradually, said TR Srinivasan, Group CFO at Varroc while discussing earnings fineprint and business outlook.
In Q2FY22, the revenues in the global lighting business has increased more than 10 percent in euro terms and this quarter the company is again expecting a double-digit growth, however full normalization is still some distance away, he said.
He expects things to get back to normal level by the end of calendar year 2022.
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Varroc Engineering posted a weak set of Q3FY22 earnings. Loss has widened to over Rs 260 crore and margin has also contracted to just around 2 percent from the 7 percent last year. The company’s performance has improved over the previous quarter, Q2FY22, especially on the margins, he said.
India business continues to be stable and steady in spite of the challenges faced in the two-wheeler segment in terms of volumes and demand being quite soft, he added.
For the full interview, watch the accompanying video
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