BackM&M Q1 profit up by 6.7% to Rs662 cr
M&M Q1 profit up by 6.7% to Rs662 cr
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Mumbai: Mahindra and Mahindra Ltd., India’s biggest maker of tractors and sports utility vehicles, said first quarter profit rose 6.7%.
Net profit, including units, rose to Rs662.32 crore in the three months ended 30 June from Rs620.83 crore a year earlier, the company said in a statement. Gross revenue gained 62% to Rs14,256 crore from the year earlier.
The earnings, however, are not comparable to the April-June quarter of fiscal 2010 as it did not include Ssangyong Motor Co. Ltd and its units, and the share in profit of Satyam Computer Services Ltd, the company said in a filing to the Bombay Stock Exchange. Mahindra acquired the Korean automaker, Ssangyong Motor in November.
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