scorecardresearch
Tuesday, Nov 29, 2022

Mahindra reports Q1 consolidated PAT at Rs 2,360.70 crore

The company had posted a consolidated loss after tax of Rs 331.74 crore in the year-ago period, M&M said in a regulatory filing.

mahindra q2 profit, m&m q2 resultsAn employee walks past a Mahindra TUV300 car at a showroom in Mumbai, India, August 30, 2016. (REUTERS/File Photo)

Mahindra & Mahindra Ltd on Friday reported a consolidated profit after tax of Rs 2,360.70 crore in the first quarter ended June 30, driven by strong performance of its automotive and farm sector segments.

The company had posted a consolidated loss after tax of Rs 331.74 crore in the year-ago period, M&M said in a regulatory filing.

Revenue from operations increased to Rs 28,412.38 crore in the first quarter this fiscal, as compared to Rs 19,171.91 crore in the corresponding period a year ago, it added.

Total expenses during the quarter were higher at Rs 26,195.01 crore, as against Rs 20,286.24 crore in the same period a year ago, the company said.

Subscriber Only Stories
UPSC Key- November 29, 2022: Why you should read ‘Executive Vs Judiciary’...Premium
Delhi Confidential: Ahead of Gujarat polls, BJP worries about NOTA votesPremium
Agrarian Punjab diesel-driven; Delhi opts for cleaner optionsPremium
The shadow of 1979: Iran and Saudi Arabia are fighting Islamism; Pakistan...Premium

The automotive segment clocked revenue of Rs 12,740.94 crore in the quarter, up from Rs 6,316.79 crore in the same period last fiscal.

In volume terms, the company said it sold 1,49,803 vehicles in the quarter under review, as compared to 85,858 vehicles in the year-ago period, a growth of 74 per cent.

The farm equipment vertical had a revenue of Rs 8,427.66 crore, as compared to Rs 7,188.74 crore in the year-ago quarter, the company said.

Advertisement

Tractor sales were at 1,17,413 units in the quarter under review, as compared to 99,127 units in the same period a year ago, up 18 per cent.

“We saw good momentum across all our group companies, led by the strong results of the auto and farm sector,” M&M Ltd Managing Director & CEO Anish Shah said.

The financial services segment registered Rs 2,876.61 crore revenue in the first quarter, up from Rs 2,530.15 crore in the same period a year ago, while the hospitality vertical clocked revenue Rs 613.19 crore, up from Rs 393.76 crore in the same period last fiscal, it added.

Advertisement

Real estate vertical, however, clocked lower revenue at Rs 94.82 crore as compared to Rs 149.51 crore in the same period last fiscal.

First published on: 05-08-2022 at 03:33:07 pm
Next Story

Mexico City chefs make 74-metre-long torta sandwich, break world record

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close