Latest News | Swaraj Engines Estimates Loss of 9,500 Units in Q1 Due to Lockdown

New Delhi, Jun 6 (PTI) Engine and auto parts makers Swaraj Engines on Saturday said it estimates loss of 9,500 powertrains in the first quarter of 2020-2021 fiscal due to coronavirus-led lockdown.

The estimated loss in March alone stood at around 3,000 engines, Swaraj Engines said in a regulatory filing.

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The revenue and profitability will be impacted in line with the fall in volumes, it added.

The entire operations of the company came to halt due to the lockdown announced by the Punjab government from March 23, 2020, it said.

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The company's manufacturing facilities and office situated at SAS Nagar Punjab was shut down entirely during the lockdown period of 42 days, starting from March 23 to May 4, it added.

With relaxations given by the authorities, the company has restarted its operation from May 5 gradually with safety protocols, Swaraj Engines said.

The company is engaged in the manufacturing and supply of engines for the fitment in tractors.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)