India’s largest car maker saw a drop of 7% in the net profit of first quarter as compared to the net profit of first quarter for the last year. The net profit dropped from Rs 499.60 crores in 2007 to Rs 465.90 crores in 2008.
The net sales reported a growth of 20% compared to last year and stood at Rs 4,731 crores. The drop in the net profit was mainly on account of a sharp increase in raw material prices and a shift to a new depreciation policy.
