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Mahindra & Mahindra Q1 Net Grows by 29.3 Percent

By Sunita Devi   |   14 August,2013

Mahindra & Mahindra Limited announced the unaudited financial results for the quarter ended on 30th June 2013 (for the company and the consolidated Mahindra Group). Mahindra Vehicle Manufacturers Limited (MVML) located at Chakan near Pune, was established to source contemporary products for expanding the market offerings of the company, and is considered to be a critical part of the company's business performance.

The Gross Revenues of Mahindra & Mahindra and MVML during the quarter ended on June 30, 2013 stood at Rs. 10,801.5 crore, as compared to Rs.10,003.9 crore last year (a growth of 8%). The Net Profit for the current quarter before tax is Rs. 1,214.1 crore, as against Rs.1,049.8 crore in Q1 previous year. After tax, the amount is Rs. 909.7 crore, as against Rs. 778.5 crore in Q1 last year which is a growth of 16.9%. The company reports impressive Q1 result due to good performance by Farm Equipment Sector and tight control on expenses. The operating margin of the Entity stood at 14.4%, as compared to 13.9% in Q1 F2013.

Mahindra & Mahindra's Gross Revenues and Other Income for the quarter ended on 30th June 2013 is Rs. 10,887.8 crore, as against Rs. 10,115.8 crore during the corresponding period last year (a growth of 7.6%). The Net Profit after tax for Q1 is Rs. 937.9 crore, as against Rs. 725.6 crore in the same period last year which is a growth of 29.3%.

Mahindra Group's consolidated Gross Revenues and Other Income for the Q1 grew by 9.5% to Rs. 19,356.0 crore (USD 3.5 billion) from Rs. 17,670.8 crore (USD3.2 billion) in Q1 last year. The consolidated revenue in the current quarter is 14.3% over Q1 F2013. The consolidated profit after tax before minority interest for the current quarter is Rs. 1,249.9 crore (USD 227.4 million), as against Rs. 1,019.7 (USD 185.5 million) crore in Q1 last year which is a growth of 22.6%. The profit after tax for the current quarter, after deducting minority interest stood at Rs. 1,164.6 crore (USD 211.9 million), in comparison to Rs. 1,026.4 crore (USD 186.7 million) last year. The Group’s recent acquisition Ssangyong Motor Company Ltd., S. Korea returned a Profit After Tax of Rs 41 crore. Mahindra Finance grew 32% in consolidated revenues and 18% increase in net profits. Mahindra Lifespaces receives 13 percent net profits. Another important development in the current Q1 period, Tech Mahindra successfully completed the merger of Mahindra Satyam with itself to become the fifth largest IT Company in the country.

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