Mahindra stories Q1 consolidated PAT at Rs 2,360.70 crore

Mahindra & Mahindra Ltd on Friday reported a consolidated revenue after tax of Rs 2,360.70 crore within the first quarter ended June 30, pushed by sturdy efficiency of its automotive and farm sector segments.

The firm had posted a consolidated loss after tax of Rs 331.74 crore within the year-ago interval, M&M stated in a regulatory submitting.

Revenue from operations elevated to Rs 28,412.38 crore within the first quarter this fiscal, as in comparison with Rs 19,171.91 crore within the corresponding interval a 12 months in the past, it added.

Total bills in the course of the quarter had been increased at Rs 26,195.01 crore, as in opposition to Rs 20,286.24 crore in the identical interval a 12 months in the past, the corporate stated.

The automotive phase clocked income of Rs 12,740.94 crore within the quarter, up from Rs 6,316.79 crore in the identical interval final fiscal.

In quantity phrases, the corporate stated it offered 1,49,803 automobiles within the quarter underneath overview, as in comparison with 85,858 automobiles within the year-ago interval, a progress of 74 per cent.

The farm tools vertical had a income of Rs 8,427.66 crore, as in comparison with Rs 7,188.74 crore within the year-ago quarter, the corporate stated.

Tractor gross sales had been at 1,17,413 items within the quarter underneath overview, as in comparison with 99,127 items in the identical interval a 12 months in the past, up 18 per cent.

“We saw good momentum across all our group companies, led by the strong results of the auto and farm sector,” M&M Ltd Managing Director & CEO Anish Shah stated.

The monetary providers phase registered Rs 2,876.61 crore income within the first quarter, up from Rs 2,530.15 crore in the identical interval a 12 months in the past, whereas the hospitality vertical clocked income Rs 613.19 crore, up from Rs 393.76 crore in the identical interval final fiscal, it added.

Real property vertical, nonetheless, clocked decrease income at Rs 94.82 crore as in comparison with Rs 149.51 crore in the identical interval final fiscal.