INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Mahindra Mahindra (MM) on Tuesday reported 67 per cent YoY rise in profit at Rs 1,257 crore for June quarter, beating Rs 1,172
crore PAT projected by analysts in an ETNow poll
The company had reported Rs 752 crore profit in the year ago quarter
The results included Mahindra Vehicle Manufacturers Limited (MVML) numbers.
Total revenue for the quarter rose 23 per cent YoY to Rs 13,551
crore from Rs 11,006 crore in the year-ago quarter.
Operating profit margin at 15.8 per cent for the quarter was up 260 basis points over
13.8 per cent in the year-ago quarter.
The company exported 9,360 vehicles during the quarter, a growth of 100.2 per cent over the
corresponding quarter previous year
Tractor sales rose 18.8 per cent.
"Consumption, both rural and urban, remains healthy
A normal monsoon, with a satisfactory temporal and spatial distribution, combined with the recently approved higher MSP for kharif crops
should help support rural consumption further
Improving capacity utilisation and credit offtake too augur well for investment activity," the company said in a BSE filing
"However, the recently announced and anticipated tariff increases by the United States and retaliatory measures by trading partners have
increased the likelihood of escalating and sustained trade actions
These could pose risks to global recovery and investments," it added said.
The numbers were supported by lower base as the industry volumes
were hurt in the year-ago quarter due to the slowdown in demand preceding the implementation of GST in July 2017 and commercial vehicle
volumes were adversely impacted due to supply constraints arising from implementation of BS IV norms.
