Revenues from M&M's farm equipment segment jumped to Rs 3,899.52 crore from Rs 3,078.29 crore Y-o-Y, but auto segment's sales fell to Rs 6,120.54 crore from Rs 6,278.65 crore during the same quarter.
Utility vehicle maker Mahindra and Mahindra (M&M) reported a higher-than-expected 29 percent growth year-on-year in its net profit of Rs 938 crore during April-June quarter, largely driven by other income and tractor business.
Total income from operations rose lower-than-expected 7 percent on yearly basis to Rs 10,022 crore in the first quarter.
Analysts on an average has expected the auto company to report net profit of Rs 870 crore on total income of Rs 10,264 crore.
Revenues from farm equipment segment jumped to Rs 3,899.52 crore from Rs 3,078.29 crore Y-o-Y, but auto segment's sales fell to Rs 6,120.54 crore from Rs 6,278.65 crore during the same quarter.
"The automotive industry in India has been facing challenging times in the recent past and in Q1 the industry shrank by 2 percent," M&M said in its filing. It sold 56,969 passenger utility vehicles during the quarter and continued to maintain its leadership position with 46 percent market share.
Meanwhile, it sold 71,696 tractors in the domestic market in Q1 as against 56,861 units in a year ago period, a growth of 26.1 percent while exports (tractors) increased 5.5 percent Y-o-Y to 3,187 units. The market share of the company in this segment was 41.4 percent during the quarter.
Earnings before interest, tax, depreciation & amortisation (EBITDA) grew by 16 percent Y-o-Y to Rs 1,287 crore while operating profit margin increased 100 bps to 12.8 percent during the quarter, which too were lower-than-forecast of Rs 1,326 crore and 13 percent, respectively.
Other income surged 2.7 times to Rs 164.2 crore in April-June quarter from Rs 60 crore reported in a year ago period, which included dividend received from subsidiaries.
"South Korean subsidiary Ssangyong Motor Company posted a 26.8 percent growth in consolidated revenues and 138 percent growth in results broke even for the first time since its acquisition in March 2011 and returned a profit after tax of Rs 41 crore," M&M said.
Post earnings, the stock trimmed gains from 3.5 percent to Rs 1.85 percent at Rs 876.05 on the BSE at 14:10 hours IST.
Utility vehicle maker Mahindra and Mahindra (M&M) reported a higher-than-expected 29 percent growth year-on-year in its net profit of Rs 938 crore during April-June quarter, largely driven by other income and tractor business.
Total income from operations rose lower-than-expected 7 percent on yearly basis to Rs 10,022 crore in the first quarter.
Analysts on an average has expected the auto company to report net profit of Rs 870 crore on total income of Rs 10,264 crore.
Revenues from farm equipment segment jumped to Rs 3,899.52 crore from Rs 3,078.29 crore Y-o-Y, but auto segment's sales fell to Rs 6,120.54 crore from Rs 6,278.65 crore during the same quarter.
"The automotive industry in India has been facing challenging times in the recent past and in Q1 the industry shrank by 2 percent," M&M said in its filing. It sold 56,969 passenger utility vehicles during the quarter and continued to maintain its leadership position with 46 percent market share.
Meanwhile, it sold 71,696 tractors in the domestic market in Q1 as against 56,861 units in a year ago period, a growth of 26.1 percent while exports (tractors) increased 5.5 percent Y-o-Y to 3,187 units. The market share of the company in this segment was 41.4 percent during the quarter.
Earnings before interest, tax, depreciation & amortisation (EBITDA) grew by 16 percent Y-o-Y to Rs 1,287 crore while operating profit margin increased 100 bps to 12.8 percent during the quarter, which too were lower-than-forecast of Rs 1,326 crore and 13 percent, respectively.
Other income surged 2.7 times to Rs 164.2 crore in April-June quarter from Rs 60 crore reported in a year ago period, which included dividend received from subsidiaries.
"South Korean subsidiary Ssangyong Motor Company posted a 26.8 percent growth in consolidated revenues and 138 percent growth in results broke even for the first time since its acquisition in March 2011 and returned a profit after tax of Rs 41 crore," M&M said.
Post earnings, the stock trimmed gains from 3.5 percent to Rs 1.85 percent at Rs 876.05 on the BSE at 14:10 hours IST.
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