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M&M reports over two-fold increase in Q3 PAT at Rs 1,353 cr - Best Business Review Site 2024

M&M reports over two-fold increase in Q3 PAT at Rs 1,353 cr

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Homegrown auto major (M&M) on Thursday reported over two-fold increase in its standalone profit after tax (PAT) at Rs 1,353 crore for the quarter ended December 31, 2021.


The Mumbai-based company had posted a standalone PAT of Rs 531 crore in the October-December period of previous fiscal.





Revenue for the third quarter rose by 8 per cent to Rs 15,239 crore, as against Rs 14,057 crore in the year-ago period, said in a regulatory filing.


The company said it sold 1,18,174 vehicles during the period under review, down 2 per cent from 1,21,133 units in the third quarter of last fiscal.


tractor sales declined by 9 per cent to 91,769 units in the third quarter, as against 1,00,696 units in the year-ago period.


On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,987 crore, as compared to Rs 1,268 crore in the Q3 of 2020-21.


Revenue rose to Rs 23,594 crore in the third quarter, as against Rs 21,626 crore in the year-ago period.


“We have seen improved performance across multiple businesses as reflected in our consolidated performance. Our Auto business has done well despite supply-side challenges, while our farm business has shown market share increase despite a slowdown in the market,” Managing Director & CEO Anish Shah noted.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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