M&M’s profit increased by 56 percent to Rs 3,683.87 crore. Loktej Business News
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New Delhi, 04 August (Hindustan Times). Mahindra & Mahindra Limited (M&M) has announced the results of the first quarter (April-June) of the current financial year 2023-24. For the April-June quarter ended June 30, M&M’s profit jumped 56.04 per cent to Rs 3,683.87 crore. The company had posted a consolidated net profit of Rs 2,360.70 crore in the same quarter of the previous financial year.
M&M told the stock market on Friday that its consolidated net profit ie profit increased by 56.04 per cent to Rs 3,683.87 crore in the April-June quarter of the current financial year. The company had posted a consolidated net profit of Rs 2,360.70 crore in the same quarter of the previous financial year. The company said that the strong performance of the vehicle segment has been a major contributor to its better quarterly results.
Similarly, the company’s operating income grew by 17.57 per cent to Rs 33,406.44 crore in the April-June quarter of FY 2023-24, as against Rs 28,412.38 crore in the year-ago period. During this period, the total expenditure of the company has increased to Rs 30,492.08 crore as against Rs 26,195.01 crore.
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