Auto firms to report muted Q1 earnings on high raw material prices

Automakers are expected to report muted earnings for the June quarter as against the previous one because high input costs and supply-chain constraints have dented profitability, show earnings estimates based on a Bloomberg poll of analysts.

The earnings are not comparable with the year-ago quarter, which faced pandemic-induced nationwide lockdowns owing to the Delta wave.

Analysts expect companies to fare better in the September quarter (Q2 FY23) as moderation in prices of raw materials starts having an impact. Additionally, with semiconductor availability easing, automakers are ramping up production to curtail the waiting period for their models. This too will bode well for