M&M consolidated Q3 net marginally down at Rs832 crore

Diversified group Mahindra & Mahindra has reported a consolidated net profit of Rs831.8 crore for the fiscal third quarter ended 31 December 2011, marginally lower than the consolidated net profit of Rs834 crore for the third quarter of the previous financial year (October-December 2010).

Consolidated gross revenue during the quarter, however, stood higher at Rs16,488.4 crore against Rs10,223.4 crore in the year-ago period, Mahindra & Mahindra said in a filing with the Bombay Stock Exchange (BSE).

The numbers, however, are not comparable with those of the same period in the previous year as the Q3 FY'12 figures include the revenue and PAT of SsangYong Motor Company Ltd and its subsidiaries.

Besides, M&M said, the company made a one-time gain of Rs84 crore from the sale of its holdings in Owens Corning India in the third quarter of the last fiscal.

''On a comparable basis, the growth in group revenue in Q3 FY'12 over Q3 FY'11 is 27.6 per cent and in group PAT after deducting minority interests is 13.2 per cent,'' M&M said.

Mahindra Satyam, Mahindra Finance and Mahindra Forgings were the major group entities that contributed to the overall performance during the quarter.

The Mahindra & Mahindra group had 112 subsidiaries, six joint ventures and 13 associates as of 31 December 2011,

Shares of M&M closed Rs10.65 higher at Rs759.95 on the BSE in afternoon trade.