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AUTOMOBILES: ON A JOY RIDE (the sector, overall, doubles net profit to Rs583 crore).
(From India Business Insight)
Seventy-four automobile and ancillary companies had a wonderful quarter during Jul-Sep 2002; they more than doubled their net profit to Rs583 crore over Jul-Sep 2001. Their sales rose 17 percent to Rs10,265 crore (Rs8,795 crore), on which they made an operating profit of Rs1,309 crore with a margin of 12.8 percent (Rs878 crore, ten percent margin). Their net profit amounted to Rs583 crore (Rs276 crore) and cash profit to Rs969 crore (Rs635 crore). Their other income surged 24 percent to Rs171 crore (Rs138 crore). Interest cost fell 25 percent to Rs196 crore (Rs262 crore), depreciation rose eight percent to Rs386 crore (Rs359 crore) and …
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