MUMBAI (Reuters) - Mahindra & Mahindra , India's biggest utility vehicle manufacturer, does not expect any significant upward pressure on raw material costs for this fiscal year ending March 2014, a top company executive told reporters on Tuesday.
Mahindra may increase vehicle prices but the quantum will be small, said Pawan Goenka, president, automotive and farm equipment sectors.
Earlier on Tuesday the company posted a forecast-beating 29 percent rise in first-quarter profit, as strong demand for its tractors compensated for falling sales of its sport utility vehicles.
(Reporting by Aradhana Aravindan; Editing by Supriya Kurane)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app