Today in New Delhi, India
Sep 25, 2018-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

M&M Q4 net profit up, shares zoom

India’s largest utility vehicle manufacturer Mahindra and Mahindra on Thursday beat market estimates with a marginal 1.7% year-on-year rise in net profit to Rs 889 crore for the quarter ended March 31, 2013, sending its shares up 4.6% to Rs 1005 on the BSE.

india Updated: May 30, 2013 20:51 IST
HT Correspondent
HT Correspondent
Hindustan Times

India’s largest utility vehicle manufacturer Mahindra and Mahindra on Thursday beat market estimates with a marginal 1.7% year-on-year rise in net profit to Rs 889 crore for the quarter ended March 31, 2013, sending its shares up 4.6% to Rs 1005 on the BSE.

Analysts had expected a profit of Rs 762 crore during the fourth quarter.

The company, however, warned that the 3% additional duty on utility vehicles imposed in this year’s budget may affect margins.

Net income also rose 11.7% to Rs 10487 crore during the quarter on the back of a 23% jump in sports utility vehicle sales and a 19% rise in passenger car sales during the quarter.

First Published: May 30, 2013 20:50 IST