Mahindra expects global business losses to shrink with Ssangyong exit

Indian automaker Mahindra & Mahindra Ltd expects losses from international subsidiaries to plunge by 90% with the disposal of Ssangyong Motor as a year-long business review nears conclusion, a company executive said.
 

Mahindra reported a slump in quarterly profit earlier on Friday, booking a one-time loss of 12.1 billion rupees ($166 million) related to South Korean unit Ssangyong, which filed for a pre-packaged rehabilitation bankruptcy plan in December.
 

"Ssangyong will now become a discontinued operation as it filed for bankruptcy," said Mahindra's deputy managing director Anish Shah, who will take over as managing director from April.
 

As part of a