Unaudited financial results for the second quarter of 2012 have been approved by Board of Directors. NPBT for the quarter stands at Rs.1049.8 crores as compared to Rs.836.3 crores in Q1 of the previous year. Profit after Tax stood at Rs.778.5 crores while this figure was Rs.618.3 crores in Q1 last year resulting in a growth of 25.9%. Operating margin for current quarter is at 13.9%. These profits are particularly noteworthy despite rising material costs which the company had to contend with by keeping a tight rein on expenses.
In Passenger utility vehicles segment Entity sold 58,615 units this quarter resulting in a 32% growth over sales in Q1 last year. Entity sales led to stronger market position with market share reaching 49.8%. Exports were also higher with 7841 vehicle exported as compared to 5717 vehicle exported in Q1 last year. South Africa and South America continued to be major markets for Entity products.
Exports during the quarter increased by 3.9% and stood at 3020 tractors while 2908 tractors were exported in Q1 last year. These results were good while taking India's economic performance into account. In the first quarter of the current fiscal, performance has been weak, Industrial volumes have been flat while situation has been causing some concerns in the market. The situation is likely to remain same following inflation which stood at 7.25% in June 2012 coupled with a poor monsoon this season.
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