The Company has posted a net profit of Rs 5001.10 million for the quarter ended June 30, 2009 as compared to Rs 2728.70 million for the quarter ended June 30, 2008. Total Income has increased from Rs 28902.50 million for the quarter ended June 30, 2008 to Rs 38649.20 million for the quarter ended June 30, 2009.
Most of the Automobile manufacturers are now in a puzzle. Let it be India or let it be the whole world.
Recession is the only thing affecting the auto sales , due to feel of recession people have cut their expenses on luxury items or more expensive items.
In two wheeler segment Both Bajaj Moters and TVS showed negative sales , while Hero Honda showed a positive sales figure.
In four wheeler segment all of the scrips have tumbled. Sales have reduced.
Sales on Diwali day were marginally lower compared to last year.
(Last year 17,000 units in one day this year 15,000 units in a day)
Ashok Leyland has already felt the pinch as it has reduced the days of production.
Today Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp plunged on Friday after it warned this year's profits would hit a 13-year low.
So is it all the Recession Effect ?
