Punjab Tractors on Tuesday reported a steep drop of 81.36% in net profit for the quarter ended June 2007. During the quarter, the company witnessed a fall in profit to Rs 33 million from Rs 177 million in the same quarter, last year.
The drop of 862 basis points in operating margin and sluggish sales growth [...]
Tata Motors have commenced working on a joint venture with Iveco, a subsidiary of Fiat Group,for a manufacturing base for commercial vehicles in Russia, reports DNA.
The joint venture plan is a result of an agreement signed earlier this year between Tata Motors (Q, N,C,F)* and Iveco as part of overall collaboration agreement with the Fiat [...]
While speculations continue to circulate in India about a possible sale of Land Rover and Jaguar to Tata Motors, Ford Motor Company, which announced its second quarter results on Thursday, maintained that no final decisions have been made in relation to the sale of the two brands in its stable.
There was an expectation that Ford [...]
Apollo Tyres Ltd’s net profit rose 187.57% of Rs 46.76 crore for the quarter ended June 30, 2007 compared with Rs 16.26 crore in the same quarter previous year. More
Courtesy:economictimes.indiatimes.com
Adayana Inc, a learning services company, will launch a range of its workforce development initiatives to help address critical skills shortage faced by several industries in India.
The Minneapolis, US-headquartered company with operations in Hyderabad, has partnered the Society of Indian Automobile Manufacturers (SIAM) to train around 1.5 lakh workers every year for employability in the [...]
Global rating agency Fitch on Thursday said increasing default rate has weakened two-wheeler financing even as there is an improvement in business of commercial vehicle financing in the country.
In the two-wheeler financing segment, nearly six per cent of customers have not paid their instalment for past six months. Earlier, the default in the segment was [...]
MRF Ltd has reported a 420 per cent rise in its net profit at Rs 42.50 crore for the third quarter ended June 2007, compared with Rs 8.17 crore posted during the corresponding quarter of the previous year.
The lower net profit during last year was due to unusual rubber prices that were ruling at over [...]
Home grown two-wheeler major, Bajaj Auto and French auto biggie Renault confirmed on Saturday that they are engaged in “preliminary deliberations” to mutually understand customer requirements for “very competitive vehicles” in India.
If concluded favourably, this could lead to a long-term partnership between Renault and Bajaj Auto for the development of the business so conceived, said [...]
Yen’s depreciation against the rupee and a rash of successful new launches boosted Japanese auto giant Maruti Suzuki’s first quarter results for the current fiscal. The car market leader’s net profit was up 35% to Rs 500 crore for the quarter ended June 30, 2007 compared with Rs 369 crore in the corresponding period last [...]
Ultra low-cost cars – be it Tata’s Rs one lakh project or Renault’s $3,000 venture – may have caught the imagination of many, but customers may end up paying much more than they think they would.
While ever-increasing input costs are putting tremendous pressure on Tata Motors to keep its word on pricing, French carmaker Renault’s [...]
French carmaker Renault is close to tying up with two-wheeler major Bajaj Auto for a brand new global platform that would make the $3,000 car. According to sources in the industry, an announcement is due next week regarding the joint development of a platform for both light passenger vehicles and goods carriers. When contacted, Bajaj [...]
Following European rival Daimler Chrysler, US-based automaker General Motors will test its advanced automobile engines on bio-diesel being developed by an Indian research institute.
“As part of a two-year project, General Motors will be testing and evaluating the performance of their most advanced and futuristic automobile engines on the bio-diesel developed by our institute,” said Central [...]
Increasing sales volumes, higher realisations, gains through non-operating income, currency fluctuation and reduction in expenses has led Maruti Udyog Ltd to post a 35.20 per cent increase in its net profit at Rs 499.6 crore in the first quarter ended June 30.
This is against Rs 369.5 crore in the corresponding quarter last year. The company’s [...]
Japanese firm Mitsubishi Heavy Industries (MHI) on Friday said it will set up a manufacturing plant in Mysore to manufacture small size diesel engines, in joint venture with city-based VST Tillers Tractors Ltd.
The first phase of the project, estimated to cost Rs 41.5 crore, would have a plant capacity of 30,000 units and would go [...]
Logix Microsystems, a provider of software products focussed on automotive e-retailing solutions, reported a 182 per cent jump in net profit to Rs 3.78 crore, during quarter-ended June 30, compared with the corresponding quarter previous fiscal. Revenue increased 62 per cent to Rs 10.06 crore. More
Courtesy:www.indiacar.net