Mahindra & Mahindra Q1 net profit up 8%, beats f'cast | business | Hindustan Times
Today in New Delhi, India
Dec 18, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -
live
* Wins + Leads | Source : ECI/Media Reports

Mahindra & Mahindra Q1 net profit up 8%, beats f'cast

Mahindra & Mahindra , India's largest utility vehicles maker today reported a better-than-expected 8% rise in quarterly net profit, driven by strong volume and demand growth.

business Updated: Aug 08, 2011 15:00 IST

Mahindra & Mahindra , India's largest utility vehicles maker, on Monday reported a better-than-expected 8% rise in quarterly net profit, driven by strong volume and demand growth.

The company reported a net profit of 6.05 billion rupees ($135.2 million) for its fiscal first quarter ended June, compared with 5.6 billion a year ago.

Analysts, on average, expected a net profit of 5.9 billion rupees, a Reuters poll of brokerages had showed.

Shares in Mahindra, valued at $9 billion, rose as much as 4% to 679.90 rupees, bucking the broader market trend, on Monday.

Its shares have fallen 16% so far this year, compared with a nearly 19% drop in the sector index and a 15.6% fall in the main index.