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Commodity cost, Marazzo launch led to lower auto margins in Q2, says M&M

Updated : November 19, 2018 13:42:15 IST

Mahindra & Mahindra (M&M) on Monday said commodity cost and expenses towards launching the Marazzo MPV in September led to lower auto margins in the second quarter.

In an interview to CNBC-TV18, Parthasarathy, group chief financial officer, said the company saw 17 percent growth in tractor industry in October and added that growth and the volume is going to be similar in the second half as it was in the first half.

Parthasarathy said margin stands around 20 percent level owing to operational efficiency and the company intend to save 200 bps over the next two years under cost reduction program.

While speaking at the sidelines of the Ambit India Access Conference in Singapore, Parthasarathy said BS-VI emission norms will come with its own set of challenges.
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