Carrier Aircon reports 67% fall in net, hit by competition - Views on News from Equitymaster

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  • Apr 24, 2000 - Carrier Aircon reports 67% fall in net, hit by competition

Carrier Aircon reports 67% fall in net, hit by competition

Apr 24, 2000

Carrier Aircon's sales fell by 4.7% to Rs 3,853 m in FY2000 from Rs 4,044 m reported in the previous year. This fall in turnover can be attributed to higher competition in the comfort AC market with the entry of Samsung, LG, Hitachi etc. The comfort AC segment accounted for 89% of Carrier's sales in FY99.

Besides pressure on volume growth there was also pressure on price realisations due to higher competition which lead to lower sales.

As operating expenses increased marginally over this period this lead to a drop in the operating margins by 5% in FY2000.

(Rs m) FY99 FY00 Change
Sales 4,044 3,853 -4.7%
Other Income 50 33 -34.0%
Expenditure 3,672 3,680 0.2%
Operating Profit (EBDIT) 372 172 -53.7%
Operating Profit Margin (%) 9% 4%  
Interest 31 22 -30.0%
Depreciation 46 52 11.9%
Profit before Tax 344 132 -61.8%
Other Adjustments - -
Tax 54 35 -35.2%
Profit after Tax/(Loss) 290 97 -66.7%
Net profit margin (%) 7.2% 2.5%  

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