Mahindra & Mahindra Q3 net profit up 42% at Rs 1,268 cr; revenue grows 11%

Mahindra & Mahindra, on Friday, reported consolidated net profit of Rs 1,268 crore for the December quarter of 2020-21 (Q3FY21). The company said it has incurred a one-time loss of Rs 1,214 crore, which impacted the bottom-line. For comparison, the company had reported profit of Rs 891.5 crore in the year-ago quarter.

The company’s revenue also grew 11 per cent on a year-on-year (YoY) basis to Rs 21,625.95 crore from Rs 19,430 crore, reported in the corresponding quarter last year.

Analysts at Motilal Oswal had expected M&M to report profit of Rs 1,278.1 crore for the quarter while revenue was pegged at Rs 13,734.1 crore.

Operating performance

The company reported earnings before interest, tax, depreciation, and ammortisation (Ebitda) at Rs 3,520.4 crore, down 1 per cent YoY. Ebitda margin came in at 16.3 per cent for the quarter as compared to 18.4 per cent reported in Q3FY20.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link