CorporateM&M Q1 net surges 150% at Rs 400 cr on merger
Automobile major Mahindra & Mahindra today reported a net profit of Rs 400.85 crore in the first quarter ended June 30 against Rs 159.30 crore in the same quarter last year.
- M&M banks on Bolero brand to increase Maxi Truck reach - M&M to focus on rural markets to boost sales - M&M launches Bolero Maxitruck in AP - Two-wheelers, utility segment to prop sales in Q1 - M&M automotive sales grow 18.72% in June - M&M signs two agreements with SBH for vehicle finance
However, June quarter figures are not comparable with the results of the corresponding period a year earlier due to merger of its two subsidiaries — Mahindra Holdings & Finance Ltd and Punjab Tractors Ltd — with the company, M&M said in a filing to the Bombay Stock Exchange (BSE).
Total income of the company stood at Rs 4,266.16 crore in the latest quarter of this fiscal, whereas the same was at Rs 3,331.80 crore in the corresponding period last year.
Shares of M&M were trading at Rs 850, up 1.09 per cent in the afternoon trade on the BSE.