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Mahindra and Mahindra Q3 Up By 30%
The combined Gross Revenues and Other Income of M&M and MVML (Entity) for the quarter ended 31st December 2012 is Rs.. 11522.3 crore as against Rs.. 9035.7 crore during the corresponding period last year - a growth of 27.5%. The Net profit before tax for the current quarter is Rs. 1177.4 crore as against Rs. 971.8 crore in Q3 Previous year. After providing for tax the same is Rs. 915.0 crore in the current quarter against Rs. 705.9 crore in Q3 F2012 - a growth of 29.6%. The Operating Margin for the combined entity in the current quarter is 13.5%.
The growth in the profits of the company despite the relentless increase in material costs is due to a good volume performance by Automotive Sector and tight control on expenses.
In the Passenger Utility Vehicle segment, the Entity sold 70483 vehicles in the current quarter - a growth of 36% over the numbers. sold in Q3 last year. All the products of the entity's UV portfolio continued to do well. The entity also expanded its UV portfolio with the launch of Ssangyong Rexton which is positioned as a premium SUV. Rexton has received an enthusiastic response from the market. The Entity continued its leadership position with a market share of 47.9%. In the Cars. segment, the Entity sold 3814 Verito Cars.. The Entity also exported 6500 Vehicles in the current quarter.
The domestic tractor industry registered a moderate growth in the current quarter with sales growing by 3.9% over Q3 last year. In the current quarter, the company sold 62522 tractors. under the Mahindra & Swaraj brands as against 62342 tractors. sold in the same period last year. The company's market share during the quarter was 41.5%. The company exported 2459 tractors. in Q3. The engine business revenue grew by 11.0% to Rs.. 222.1 crore in Q3 F2013 against Rs.. 200.1 crore in Q3 last year.
Q3 F2013 - M&M Standalone results
The Gross Revenues and Other Income of Mahindra & Mahindra Ltd. for the quarter ended 31st December 2012 is Rs. 11588.9 crore as against Rs. 9001.3 crore during the corresponding period last year - a growth of 28.7%. The Net Profit after tax for the quarter is 836.2 crore as against Rs 662.2 crore in the same period last year - a growth of 26.3%.
YTD F2013 - M&M + MVML Results
The Gross Revenues and other income of the Entity during the period ended 31st December 2012 is Rs.32313.0 crore as against Rs.24671.5 crore in the corresponding period previous year - a growth of 31.0%. The Net Profit after tax for Apr-Dec 2012 is Rs 2671.5 crore as against Rs 2085.8 crores in the corresponding period previous year - a growth of 28.1%. The operating margin of the Entity for period is 13.7 %.
YTD F2013 - M&M Standalone Results
The Gross Revenues and other income of Mahindra & Mahindra Ltd. during the YTD period ended 31st December 2012 is Rs.32596.0 crore as against Rs.24531.9 crore in the corresponding period previous year - a growth of 32.9%. The Net Profit after tax for the current YTD period is Rs 2463.6 crore as against Rs 2004.4 crores in the same period previous year - a growth of 22.9%.
Group Consolidated Results
The Board meeting to approve the accounts of a major subsidiary is still to be held. After the approval and announcement of its results, the company will separately release the information on Consolidated Group Turnover and PAT.
Outlook:
There has been a significant improvement in the macroeconomic environment in the last three months. Global risks to growth have abated for now, bringing considerable relief. Macroeconomic developments on the domestic front have also been equally encouraging. In particular, the last quarter saw a steady decline in inflation, while industrial volumes, after averaging virtually zero growth in the first two quarters of F2013, registered a growth of 4% year-on-year in Oct-Nov 2012. Furthermore, the Government of India has swung back into action in the last quarter, announcing a string of significant and much-needed policy and regulatory reforms, which have helped bolster business and investor confidence in the country. Consequently, even though several weaknesses like our high fiscal and current account deficits and subdued investment cycle remain, our current overall outlook on the economy is one of cautious optimism.
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