Mahindra And Mahindra Profit & Revenues Increased In Quarter 1 or FY 2011-12

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The Gross Revenues and Other Income of Mahindra and Mahindra Ltd. for the quarter ended 30th June 2011 is Rs.7294.3 crore as against Rs.5663.5 crore during the corresponding period last year – a growth of 28.8%. The net Profit before tax for the current quarter is Rs.814.3 crore as against Rs.721.1 crore in Q1 last year – a growth of 12.9%. In the current quarter, the non-cash charge arising from amortization of ESOPs granted in earlier years is Rs.26.5 crore as compared to Rs.0.9 crore in Q1 F2011. Excluding this charge, the PBT growth in the current quarter over Q1 last year is 16.5%. Profit after tax for the current quarter is Rs.604.9 crore as against Rs. 562.4 crore Q1 last year – a growth of 7.6%. The growth in the profit of the company despite the relentless increase in material costs is due to good volume performance by both Vehicles and tractors and tight control on expenses.

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The company’s Auto sector volumes in Q1 F2012 registered an impressive growth of 20.9% in the highly competitive domestic market. In the Passenger Utility Vehicle (UV) segment, against an industry growth of 5.1% in the current quarter, the company sales at 44,407 vehicles grew by 14.3%. The company continued its dominant position in the market with a market share of 56.2%. In the Passenger MPV VAN segment, the company had launched Mahindra GIO compact cab in Feb 2011 & Maxximo Mini VAN recently in April 2011. Both the products together, even so soon after their launch, recorded a volume of 4,073 nos. in the current quarter, with a market share of 7.1%. In a highly competitive LCV < 2T (mini truck) segment, company’s Maxximo Load & Gio Load vehicles sold 12,154 nos. – a strong growth of 53.7% over Q1 last year. In the current quarter, the company exported 5,717 vehicles as against 3,125 vehicles registering thereby a growth of 82.9% over Q1 last year. SAARC, South America & South African markets extended healthy support.

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