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Margin worries for M&M
Rising raw material costs has proved to be the biggest dampener for the Indian automobile industry in the fourth quarter of the last fiscal. The pressure on operating margins despite high volumes was also felt by auto major Mahindra & Mahindra which saw a 6.36 per cent jump in its net profit for the fourth quarter ended March 31 at Rs. 606.54 crore as against Rs. 570.26 crore.
