M&M reports over two-fold increase in Q3 PAT at Rs 1,353 cr

Gordon B. Johnson

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Homegrown automobile significant Mahindra & Mahindra (M&M) on Thursday claimed in excess of two-fold raise in its standalone financial gain immediately after tax (PAT) at Rs 1,353 crore for the quarter finished December 31, 2021.

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The Mumbai-primarily based company experienced posted a standalone PAT of Rs 531 crore in the Oct-December interval of preceding fiscal.&#13
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Income for the third quarter rose by 8 per cent to Rs 15,239 crore, as in opposition to Rs 14,057 crore in the yr-back period, M&M said in a regulatory filing.

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The enterprise explained it marketed 1,18,174 cars all through the period beneath critique, down 2 for each cent from 1,21,133 models in the third quarter of final fiscal.

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M&M tractor gross sales declined by 9 per cent to 91,769 models in the third quarter, as in opposition to 1,00,696 models in the calendar year-back period of time.

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On a consolidated foundation, the Mahindra Team noted a PAT of Rs 1,987 crore, as in comparison to Rs 1,268 crore in the Q3 of 2020-21.

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Earnings rose to Rs 23,594 crore in the third quarter, as in opposition to Rs 21,626 crore in the year-back period of time.

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“We have found improved general performance throughout various companies as reflected in our consolidated performance. Our Car organization has accomplished effectively irrespective of supply-aspect difficulties, though our farm business enterprise has shown market share raise in spite of a slowdown in the current market,” M&M Controlling Director & CEO Anish Shah mentioned.

(Only the headline and image of this report may perhaps have been reworked by the Enterprise Regular staff the rest of the information is car-generated from a syndicated feed.)

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