According to the company, its standalone net profit during the quarter under review declined to Rs 765.96 crore from Rs 954.95 crore reported in the corresponding period of 2016-17.
The company's standalone total income during the quarter under review inched up by 3.12 per cent to Rs 12,540.20 crore from Rs 12,159.62 crore earned during the like period of last fiscal.
"The automotive industry in Q1 F2018 was impacted due to the impending transition to GST from 1st July 2017 with the passenger vehicles sales being adversely impacted in anticipation of a price reduction," the company said in a statement.
"The sales of heavy commercial vehicle goods segment showed a dip as a result of pre-buying of BS3 vehicles in Q4 F2017, saturation of replacement demand and production constraints of BS4 models leading to Q1 F2018 sales being the lowest in past 13 quarters."
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.