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Eicher Motors CV sales on a roll

Eicher Motors Ltd, maker of commercial vehicles and two-wheelers, reported a much better operating performance in the December quarter.

The company’s sales rose by 41% to Rs 1,235 crore, over the same period last year, on the back of higher vehicle sales and price hikes. The company had hiked prices of commercial vehicles in the September quarter by about 2-4% to compensate for higher raw material prices. On a sequential basis, sales rose by 13%.

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SKF India net profit falls 62% on auto industry woes

SKF India, a Rs 1,620 crore turnover company that makes bearings and seals used by industries, suffered from the industrial slowdown. The March’09 quarter saw a continuation of a factory shutdowns, reduction in shifts in various sectors, as companies adjusted production schedules in line with declining demand. Automobile makers have cut production, particularly among commercial vehicles, affecting purchases. A general decline in other industries too seems to have affected demand for bearings.

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