Mahindra & Mahindra Q3 profit rises 20% to ₹3,181 crore
The Hindu
Mahindra & Mahindra Ltd reports 20% rise in consolidated PAT to ₹3,181 crore in December quarter.
Mahindra & Mahindra Ltd on Friday reported a 20% rise in consolidated profit after tax (PAT) to ₹3,181 crore in the December quarter.
The company had posted a consolidated PAT of ₹2,658 crore in the year-ago period.
Revenue for the quarter under review grew 17% year-on-year to ₹41,470 crore from ₹35,299 crore a year earlier, the company said.
In the auto segment, the company said, quarterly volumes stood at 2,45,000, up 16% year-on-year while utility (UV) volumes for the quarter stood at 1,42,000.
Auto segment revenue for the third quarter of the current fiscal was at ₹23,391 crore, registering a 21% growth, while consolidated PAT stood at ₹1,438 crore, up 20% year-on-year, it said.
The company said while domestic operations are doing incredibly well, it expects businesses having the momentum to continue, while international operations are weak, driven by macro headwinds in those international markets.
"Our businesses continue to demonstrate strength in execution. Auto and farm delivered solid performance on market share and margins, on the back of focused execution. The transformation at TechM is gathering momentum," M&M Ltd Managing Director & CEO Anish Shah said.
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