Mahindra and Mahindra, India’s largest utility vehicle manufacturer on Friday reported a 7.9% rise in net profit, year-on-year at Rs 758.5 crore for the quarter ended September 30. Income went up by 19% to Rs 5,434.4 crore over Rs 4,557.8 crore last year.
Part of the company’s profitability was eroded as a result of rising input costs that saw the cost of consumption of raw materials go up by 18% over last year.
During the second quarter of last fiscal, the firm had also profited by Rs 90.8 crore as exceptional profit arising out of the Mahindra Holidays IPO. The shares of the company were down 0.2% to Rs 731.9 per share.