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India - Kinetic Motor June quarter net plunges by 97pct

Kinetic Motor Company reported a substantial drop in standalone net profit for the quarter ended June 2010.

During the quarter, the profit of the company declined 97.94% to INR 3.10 million from INR 150.20 million in the same quarter last year.

The company’s net sales for the quarter declined marginally 2.65% to INR 11 million, while total income for the quarter fell 96.18% to INR 11.10 million, when compared with the prior year period.

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