Tata Motors profit falls 34% :-
New Delhi: High raw material costs and decline in sales dented Tata Motors' earnings in the second quarter as net profit fell 34% to Rs. 346.9 crore against Rs 526.8 crore in the corresponding quarter of last financial year. The company's bottom-line was also hit by a foreign exchange loss of Rs. 285 crore.
While vehicle sales for Tata Motors fell 1.1% during the quarter to 135,037 units, its spending on raw materials increased 4.4% to Rs. 4,339.7 crore against Rs 4155 crore in July-September 2007 period. "The quarter was impacted by high input costs, and the company is aggressively pursuing cost reduction initiatives," the company said in a statement.
The company's net sales revenue in the period, however, was up 6.5% at Rs. 7029.3 Crore against Rs. 6595 Crore in the second quarter of 2007-08.
Bosch Net up 15% in third quarter:-
In Bangalore on dated 31st Oct Bosch Ltd (formerly Motor Industries Co Ltd.) has posted an increase of 15.7 per cent in net profit to Rs. 158.2 crore (Rs. 136.7 crore) during the third quarter of its fiscal year, 2008.
The total income increased 19.5 per cent to Rs. 1268.5 crore (1061.2 crore).
Nissan drops 40.5% in half-year profits:-
Tokyo: Japanese Company Nissan Motor Co. reported on Friday a 40.5% slump in halr year net profits and predicted annual earnings would plunge by two-thirds due to weak global markets and a strong yen. Nissan posted a net profit of $1.3 billion for the siz months to September, down from $2.2 billion the previous year.
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