Motor Industries Company (MICO) has reported a 18% decline in its unaudited net profit to Rs 91.74 crore for the first quarter ended March 31, 2005 as compared to Rs 112.37 crore for the quarter ended March 31, 2004. Total income has increased from Rs 577.31 crore in Q1-04 to Rs 662.29 crore for the quarter ended March 31, 2005.According to a release issued by MICO to the BSE, the company has acquired petrol injection business from Robert Bosch India with effect from January 01, 2005 for a consideration of Rs 15.32 crore.
