Mahindra & Mahindra Ltd., India's biggest sports utility vehicle maker, and Tata Motors Ltd., the maker of the Jaguar-Land Rover luxury car, are expected to says profit fell in the fiscal first-quarter and operating profit margin narrowed.
Mahindra & Mahindra's margins are expected to be weak at 11.4% compared to 12.4% in the same period last year, Emkay Global said in a report.
The automaker is expected to report a 11% drop in net profit to Rs 7.84 billion while net sales are expected to fall 2.8% to Rs 99.73 billion in the quarter.
Meanwhile, Tata Motors is expected to report EBITDA margins at 15.2% in the first quarter compared to 18.2% in the same period last year, the report added.
The company's net profit is expected to fall 44.9% to Rs 29.36 billion while net sales is expected to drop 6.7% to Rs 603.3 billion in the first quarter.
At 11:15AM, Mahindra & Mahindra rose 1.21% to Rs 1,411.10 while Tata Motors climbed 1.50% to Rs 388.75 on the Mumbai stock exchange.The 30-share Sensex index rose 0.02% to 28,299.43.
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