COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

M&M net up at Rs 632.2 million

Mahindra and Mahindra Limited registered higher net profit of Rs 632.2 million during the third quarter ended December 31, 1998 as against Rs 622.8 million of the corresponding period of last year and Rs 478.3 million of the second quarter of this year.

The income from operations jumped to Rs 8.51 billion during the third quarter from Rs 8.21 billion of the corresponding period of the previous year. The income for the nine months of the current financial year also rose to Rs 24.65 billion as compared to Rs 24.10 billion of the previous year.

Provision for taxation and depreciation were Rs 120 million and Rs 287.1 million respectively.

During the third quarter, the company sold 16,779 vehicles and 18,203 tractors as against 19,240 vehicles and 15,606 tractors of the third quarter of last year.

With the implementation of the new wage agreement with the tractor workmen's union, both production volumes and productivity have increased significantly. This has enabled the company to increase tractor production in the third quarter by 19 per cent as compared to the second quarter, and 71 per cent as compared to the first quarter of current financial year, the company said in a statement.

UNI

Business news