India's largest commercial vehicle manufacturer Tata Motors has reported a net profit of Rs 1,999 crore in the first quarter of FY12 as against Rs 1,988 crore in the corresponding quarter last fiscal.
Consolidated net sales increased 23.4% to Rs 33,392 crore from Rs 27,055 crore year-on-year.
Bottomline was way below expectations while topline was better than estimates. CNBC-TV18 poll saw net profit of Rs 2,242 crore and net sales of Rs 32,000 crore.
In a press conference, the management of the company said consolidated operating margin declined to 13.3% in Q1FY12 versus 14.6% in same quarter the previous year.
"We raised truck and bus prices by 2.5% in Q1. We also raised car and utility vehicles prices by 2%."
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
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