Moneycontrol
Feb 12, 2018 07:59 AM IST | Source: Moneycontrol.com

M&M Q3 profit beats estimates, rises 17% to Rs 1,306 cr; revenue grows 10%

Revenue from operations in Q3 grew by 10.3 percent to Rs 11,491.5 crore compared to Rs 10,420.4 crore in corresponding period last year.

Mahindra & Mahindra (along with Mahindra Vehicle Manufacturers) has reported profit growth of Rs 16.91 percent year-on-year at Rs 1,305.72 crore in Q3 was ahead of CNBC-TV18 poll of Rs 983 crore.

The company had reported profit at Rs 1,116.8 crore for year-ago quarter.

Revenue from operations in Q3 grew by 10.3 percent to Rs 11,491.5 crore compared to Rs 10,420.4 crore in corresponding period last year, which was largely in line with estimates of Rs 11,538 crore.

Overall volumes during the quarter increased 6.5 percent YoY, with auto segment volumes growing 7 percent (aided by double-digit growth in pick-up segment) and tractors showing 6 percent growth on high base.

Operating profit growth of 17.7 percent year-on-year at Rs 1,736 crore and margin expansion of 90 basis points at 15.1 percent for quarter ended December 2017 were ahead of CNBC-TV18 poll estimates of Rs 1,690 crore and 14.6 percent, respectively.

Automotive segment has registered revenue growth of 11.6 percent year-on-year at Rs 7,097.3 crore, with EBIT (earnings before interest and tax) rising 33.87 percent at Rs 605.33 crore while tractor business grew by 9 percent to Rs 4,098.3 crore with EBIT rising 14.8 percent to Rs 838.6 crore in Q3.
Sections
Follow us on
Available On