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M&M Q3 profit up by 60pct YoY

Auto News - Published on Mon, 11 Feb 2019

Image Source: Deccan Chronicle
Mahindra & Mahindra reported a 60 per cent YoY jump in consolidated profit at INR 1,476 crore. Other income stood at INR 340.93 crore in December quarter against INR 98.28 crore in the year-ago period. This included INR 203.56 crore in dividends from subsidiaries, associates and joint ventures. The tractor maker had reported INR 920 crore profit in the year-ago period.

Total income for the quarter rose 14 per cent to INR 13,235 crore compared with INR 11,594 crore in the same quarter last year.

Operating profit margin fell to 13.2 per cent from 14.7 per cent in the same quarter last year.

The company said in a filing that "Global expansion has weakened and risks to global growth have tilted to the downside. Escalation of trade tensions beyond those already anticipated and tightening of financial conditions are a key source of risk to the outlook. We must also remain watchful of potential triggers including a "no-deal" Brexit and a greater-than-envisaged slowdown in China.”

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Posted By : Joykumar Irom on Mon, 11 Feb 2019
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