Mahindra & Mahindra December quarter net vaults to Rs413 crore

Automobile major Mahindra and Mahindra posted a massive surge in net profits to Rs413.7 crore in the third quarter this fiscal, against Rs43.6 crore in the same quarter a year ago, due to moderate commodity prices and an improved sales performance.

Gross revenues of the company also zoomed to Rs4,920.3 crore, up a huge 51.2 per cent as against Rs3,255.1 crore in the year-ago period, the company said in a regulatory filing today.

While the lower base for third quarter last year had an impact on growth percentages, the financial results were nevertheless outstanding on strong sales performance of automotive and equipment sectors.

M&M however, said that the increasing commodity prices could put pressure on margins in the coming months.

The company said it expected to counter the rising trend through persistent focus on costs and strong volume performance, the statement said.

In the review period M&M sold 50,602 vehicles in the utility segment that was up 73.4 per cent from the previous quarter.