Mahindra & Mahindra announces Q1 results

Mumbai, August 8, 2012: Mahindra & Mahindra has announced its unaudited financial results for the quarter ended June 30, 2012. The gross revenues and other income of Mahindra & Mahindra and MVML, its wholly-owned arm, based at Chakan for April-June was Rs 10,003.9 crore as against Rs 7,400 crore in the previous year, up 35.2 percent. The net profit before tax for the current quarter was Rs 1049.8 crore as against Rs.836.3 crore in Q1 2011. After providing for tax, the same is Rs 778.5 crore against Rs 618.3 crore in Q1 last year, up 25.9 percent.

In the passenger UV segment, MVML sold 58,615 vehicles in the current quarter, a growth of 32 percent over Q1 sales last year. In the cars segment, 2,888 Verito cars were sold and 7,841 vehicles exported in Q1 over the 5,717 vehicles exported in Q1 2011.

MVML sold 56,861 tractors in the domestic market in Q1 as compared to 57,500 tractors in Q1 last year. Exports during the quarter were at 3,020 tractors, up 3.9 percent over 2,908 tractors exported in Q1 F2011.

Gross revenues and other income of M&M in Q1 were Rs 10115.8 crore as against Rs 7,318.6 crore during the corresponding period last year, up 28 percent. The net profit after tax was Rs 725.6 crore for Q1 as against Rs 604.9 crore in the same period last year, up 20 percent.