Toyota will acquire a stake of about five per cent in Suzuki for nearly 900 million dollars. Suzuki will put about 450 million dollars of its own money into Toyota.
The company posted earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 2,048 crore, down 38.5 per cent from Rs 3,330 crore in Q1 FY19.
The two-wheeler manufacturer said the special edition model, introduced in response to growing customer demand, the MotoGP edition is a nod to its racing heritage.
"I would have had a great confidence that auto demand will pick up after the Lok Sabha polls, but US putting an embargo on Iranian oil exports and BS-VI emission norms are some of the factors which may hit auto sales going forward," Bhargava told reporters.
According to the company, net profit in the quarter under review stood at Rs 1,795.6 crore as compared to the corresponding period of the previous fiscal.
New Delhi, Mar 10: President of Toyota Motors Akio Toyota and Chairman Suzuki O Suzuki called on the Prime Minister...