24/10/2021

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M&M Q3 zooms 42{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} at Rs 1,268 crore, Auto News, ET Auto

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New Delhi: Mahindra & Mahindra, on Friday, described forty two{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} advancement in its consolidated internet financial gain at INR one,268 crore for the quarter to December 31, 2020-21 (Q3FY21).

The enterprise had described a internet financial gain of INR 891.five crore in the yr-ago quarter, the enterprise mentioned in a launch.

The enterprise mentioned it has incurred a one-time decline of INR one,214 crore, which impacted the bottom line in Q3 FY21.

In the meantime, the firm’s revenue also grew 11{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} on a yr-on-yr (YoY) foundation to INR 21,625.95 crore from INR 19,430 crore, described in the corresponding quarter final yr.

In the course of the quarter below overview, the enterprise offered eight,ninety seven,908 units of passenger autos and 2,58,734 units of tractors registering a advancement of 14.four{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} and 26.eight{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}, respectively. Even so, professional car or truck and 3-wheeler gross sales declined by one.one{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} and fifty nine.3{ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a}, respectively, for the duration of the October-December period of time.

The tractor industry’s advancement momentum was supported by good sentiment in the rural and agri economic system pushed by incredibly great monsoon, healthy reservoir ranges, report kharif production, great rabi sowing, ongoing high central authorities shelling out in Agriculture and Rural Enhancement.

On the back again of these good elements, it is envisioned that tractor desire will continue being sturdy for the duration of the coming quarter as well, the enterprise included.

Having several positives, the calendar yr 2021 has began with a solid momentum. Even so, some important problems do exist specially on the source facet and commodity prices, M&M mentioned.

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