M&M Q3 net surges 155% on ‘good’ demand
The Hindu
Auto segment sees ‘healthy’ booking pipeline and ‘buoyant demand’
Mahindra & Mahindra Ltd. (M&M) said third-quarter standalone net profit rose 155% to ₹1,353 crore from a year earlier due to improved performance.
Net sales income climbed 8% to ₹15,239 crore.
Commodity inflation and the shortage of semiconductors impacted the operating margin which stood at 11.9%. The automotive segment reported ‘healthy’ booking pipeline and ‘buoyant demand’ for its products and the farm segment delivered ‘excellent’ performance with the second-highest third quarter numbers in terms of profit before interest and tax, and domestic volumes, the company said.
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