Third party air conditioner maker Amber Enterprises India Ltd. expects second quarter sales to remain soft after posting flat growth in the previous due to better-than-expected monsoon season.
The recovery would only begin from the next quarter, its Chairman and Chief Executive Officer Jasbir Singh told BloombergQuint in an interaction.
“The current quarter would witness an impact as the air conditioner industry is holding up some inventories and are trying to liquidate in the market,” said Singh. “The next two quarters after that will be positive.”
The unpredictable monsoon would not change the long-term outlook of the sector. Air conditioners remain a low penetrated product in the consumer durable segment, Singh said adding the industry should growth at its normal pace after Sept.
Watch the full interaction here:
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