74th Day Of Lockdown

Maharashtra80229286942849 Tamil Nadu2869415762235 Delhi2633410315708 Gujarat19119130111190 Rajasthan100847359218 Uttar Pradesh97335648257 Madhya Pradesh89965878384 West Bengal73032912366 Karnataka4835169357 Bihar4598223329 Andhra Pradesh4250256573 Haryana3597120924 Telangana32901627113 Jammu and Kashmir3142104835 Odisha247814819 Punjab2415204347 Assam19894434 Kerala170071215 Uttarakhand115328610 Jharkhand7642975 Chhatisgarh6781892 Tripura6221730 Himachal Pradesh3691636 Chandigarh3022225 Goa126570 Manipur124110 Puducherry90330 Nagaland8000 Arunachal Pradesh3710 Meghalaya33131 Mizoram1710 Sikkim200
Business Companies 09 Nov 2019 M&M Q2 net slips ...

M&M Q2 net slips 27 per cent, revenue down 14.5 per cent

DECCAN CHRONICLE. | MICHAEL GONSALVES
Published Nov 9, 2019, 1:52 am IST
Updated Nov 9, 2019, 1:52 am IST
The Mumbai-headquartered company’s September quarter net profit stood at Rs 1,355 crore against Rs 1,778.8 crore in a year-ago period.
Mahindra’s farm equipment business also revenue declined 9.8 per cent at Rs 3,631.5 crore compared with Rs 4,028 crore last year, and the EBIT was down 13.7 per cent at Rs 702 crore as against Rs 803 crore year-on-year.
 Mahindra’s farm equipment business also revenue declined 9.8 per cent at Rs 3,631.5 crore compared with Rs 4,028 crore last year, and the EBIT was down 13.7 per cent at Rs 702 crore as against Rs 803 crore year-on-year.

Pune: Mahindra and Mahindra, India’s biggest utility vehicle maker, on Friday reported a 26.5 per cent drop in quarterly net profit as the company struggled to sell cars, trucks and tractors amid a slowdown in Asia’s third-largest economy.

The Mumbai-headquartered company’s September quarter net profit stood at Rs 1,355 crore against Rs 1,778.8 crore in a year-ago period.

 

However, the maker of popular model such as Bolero and Scorpio beat the beat analysts’ average estimate for a profit of Rs 1,150 crore, according to Refinitiv data.

Its revenue was down 14.5 per cent at Rs 10,935 crore compared to Rs 12,790 crore last year.

The tax expense for the quarter stood at Rs 403.4 crore as against Rs 519.4 crore incurred in the previous year.

The earnings before interest, tax, depreciation and amortisation (Ebitda) was down 16.7 per cent at Rs 1,541 crore as against Rs 1,849.3 crore while the Ebitda margin was down marginally at 14.1 per cent.

Its automotive business revenue fell 18.4 per cent at Rs 6,892.8 crore while the EBIT margin was down at 5.8 per cent year-on-year.

Mahindra’s farm equipment business also revenue declined 9.8 per cent at Rs 3,631.5 crore compared with Rs 4,028 crore last year, and the EBIT was down 13.7 per cent at Rs 702 crore as against Rs 803 crore year-on-year.

The company sold 1.10 lakh vehicles in Q2 FY20, lower by 21 per cent from 1.41 lakh units in Q2 FY19.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT