M&M profit rises 26 per cent, lags street estimates

Mahindra & Mahindra Ltd, India's biggest utility vehicle manufacturer, posted a 26 per cent rise in profit for the three months to end-December but lagged street estimates, as a slide in operating margin offset strong SUV sales growth.

Shares in the company fell as much as 1.4 per cent after the results. They were down 0.4 per cent before the results were released.

Mahindra, also the world's largest tractor company by sales volume, said profit for the fiscal third quarter was Rs 8.36 billion, against Rs 6.62 billion a year earlier. Net sales increased 29 per cent to Rs 106.43 billion.

Analysts, on average, expected profit of Rs 8.62 billion, according to data from Thomson Reuters Starmine.

Mahindra's passenger vehicle sales rose an annual 36 percent during the quarter, as its domestic tractor sales inched up 3.9 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Winter rains that have destroyed rabi crops are bound to take their toll

    Farmers are distressed. Many of them are staring at bankruptcy and most remain unsure how they would feed themselves, their families and cattle.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Today's Columns

BK Chaturvedi

Size does not matter, efficiency does

On assumption of office, prime minister Modi had emphasised the ...

Zehra Naqvi

Don’t let society decide your life’s framework

Our lives are nothing but a series of relationships, and ...

Dharmendra Khandal

The gigantic tales of mother nature

In Namdapha tiger reserve, Arunachal Pradesh, our guide was looking ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture