Mumbai: Mahindra & Mahindra Ltd, India’s biggest utility vehicles maker, reported a better-than-expected 44% rise in quarterly profit, helped by an exceptional gain and strong volume growth by its tractor and car businesses.
Mahindra, one of the world’s biggest tractor manufacturers, said on Wednesday net profit for the March quarter was Rs874 crore ($156 million), against Rs606 crore a year earlier.
Mahindra, one of the world’s biggest tractor manufacturers, said on Wednesday net profit for the March quarter was Rs874 crore ($156 million), against Rs606 crore a year earlier.
Net sales rose 39% to Rs9,240 crore.
Analysts on average expected profit of Rs620 crore on revenues of Rs8,260 crore, according to Thomson Reuters I/B/E/S.
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