Mahindra & Mahindra Ltd expects losses from international subsidiaries to shrink by 90% with the disposal of Ssangyong Motor as a year-long business review nears conclusion.

The automaker reported a slump in quarterly profit earlier on Friday, booking a one-time loss of 12.1 billion rupees ($166 million) related to South Korean unit Ssangyong, which filed for a pre-packaged rehabilitation bankruptcy plan in December.Mahindra's deputy managing director Anish Shah said that  Ssangyong will now become a discontinued operation as it filed for bankruptcy. He further added that our capital allocation actions are almost complete ... We're now really starting to focus on how can we drive significant growth," said Shah, adding the company plans to invest in electric vehicles and strengthening its portfolio of sport-utility vehicles (SUVs) in the domestic market.

 Mahindra has been in talks to sell its stake in Ssangyong. It also ended its joint venture with Ford Motor Co and cut more than half of its North American workforce. It is expected that losses from the international subsidiaries will shrink to about $41 million in the fiscal year starting April 1 from an expected loss of $411 million in the current year.

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