INSUBCONTINENT EXCLUSIVE:
Excluding exceptional items, the profit for the automaker would have fallen only by 34 per cent
impairment of certain investments worth Rs 601 crore
The company also reported a one-time gain of 47 crore
In total, exceptional and one-off items amounted to Rs 554 crore for the quarter compared with net gain of Rs 519 crore in the same quarter
Excluding both exceptional and one-off items, the profit would have risen 7 per cent to Rs 934 crore
Signs of trend reversal visibleThe company said that auto and tractor segments have shown some signs of trend reversal, seeing moderation
utility vehicle (UV) segment and special schemes offered by OEMs for the auto industry were the key reasons for this moderation in
Kotak Institutional Equities had expected a margin expansion of only by 80 basis points YoY, as it expected a likely 250 basis points
expansion in margins will be partly offset by negative operating leverage
Axis Capital had expected margin improvement for M-M at 30 bps YoY on hopes of reduction efforts and check on discount levels.
Update on
commercial vehicle, tractor segmentsThe company noted that commercial vehicles (CV) industry continues to be in pain, clocking a 17.3 per
segment have fallen to 2014 levels of 20,000-22,000 trucks per quarter
profit drops 73%Revenue for the quarter fell 6 per cent to Rs 12,120 crore compared with Rs 12,893 crore in the same quarter last year
Net profit plunged 73 per cent year-on-year (YoY) to Rs 380 crore in December quarter
The figure included numbers for wholly-owned manufacturing unit MVML.