Wabco India has announced that all its four plants in India will work for four days a week during March on prolonged slowdown in the automotive sector.
In a regulatory filing, the auto components maker said Fridays will be considered as leave. The company has plants in Chennai, Pant Nagar, Lucknow and Jamshedpur.
Wabco India produces electronic braking, stability and suspension and transmission control systems for heavy-duty commercial trucks, trailers, buses and off-highway vehicles.
Medium and heavy commercial vehicle sector had been facing the brunt of the slowdown with its sales volume getting affected.
During the third quarter, Wabco India’s standalone net profit dropped 35.27% to ₹38.70 crore and for the nine-month period by 44.66% to ₹127.32 crore.
Shares of the company lost 0.65% to close at ₹6,765 on the BSE.
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