Amber Enterprises India plunges after posting loss in Q2

Shares of Amber Enterprises India AMBE.NS drop nearly 10% to 7115 rupees

AMBE on track for worst session since Jan 13

The AC maker posts a consolidated net loss of 328 million rupees ($3.73 million) vs profit a year ago

Jefferies says the company missed earnings estimates on weakness in the consumer durables segment, led by RAC (room air-conditioners)

Adds RAC sales impacted by deferred sales after GST cuts

Says net loss was due to lower margins and higher financing costs owing to stake purchase in Power-One

Stock rated "Buy" on average by 27 analysts covering it; median PT at 8950 rupees- data compiled by LSEG

YTD, AMBE down 3%

($1 = 87.8950 Indian rupees)