Indian automaker Tata Motors has reported a combined profit of $4.7 million (217.8 million rupees) for the third quarter of the current fiscal year. No doubt, it was really unexpected and came as a big surprise. The company recorded a net loss of 9.42 billion rupees in the same period of last year when economic recession was rife in the global auto market. However, it seems that Tata Motors is gradually retaining its strength in the market.
One of the two possible reasons behind the company’s profit in the last quarter is its attempt to cut costs. Tata Motors over the last few months tried hard to control its costs and that helped the company return to profit. Another factor that worked positively for the company is the investments in its associate companies.
Related article:
No comments:
Post a Comment