for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

Canada's auto parts maker Linamar posts quarterly loss on pandemic impact

Aug 6 (Reuters) - Canada’s Linamar Corp on Thursday posted a quarterly loss compared with a year-ago profit, as the auto parts maker grapples with a demand fallout from the COVID-19 pandemic.

The company’s net loss was C$37.9 million ($28.50 million), or 58 Canadian cents per share, in the second quarter ended June 30, compared to a profit of C$150.2 million, or C$2.28 per share, a year earlier.

Sales plunged 55.7% to C$923.6 million. ($1 = 1.3299 Canadian dollars) (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up