Modern car India company's first-quarter net profit exceeds expectations.

Modern Cars India Company announced that its net profit for the first quarter exceeded analysts' average expectations. Performance for the first quarter: net profit of 13.7 billion rupees, a year-on-year decrease of 8.1%, exceeding Bloomberg's consensus expectation of 12.64 billion rupees. Revenue was 164.1 billion rupees, a year-on-year decrease of 5.4%, lower than the expected 167.07 billion rupees. Total costs were 147.8 billion rupees, a decrease of 5% year-on-year. Raw material costs were 118.34 billion rupees, an increase of 0.6% year-on-year. Profit before interest, tax, depreciation, and amortization was 21.85 billion rupees, a decrease of 6.6% year-on-year. The profit margin before interest, tax, depreciation, and amortization was 13.3%, lower than the 13.5% in the same period last year.