ICICIdirect.com has come out with its October-December quarter earnings estimates for the automobile sector. The brokerage house expects Mahindra and Mahindra (M&M) to report a 11.1 percent degrowth quarter-on-quarter (up 5.2 percent YoY) in net profit at Rs 879.6 crore. Revenue of Mahindra and Mahindra is expected to increase by 18.2 percent Q-o-Q (down 2.1 percent Y-o-Y) to Rs 10550.6 crore, according to ICICIdirect.com. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 12.9 percent Q-o-Q (up 6.8 percent Y-o-Y) to Rs 1293.1 crore. ICICIdirect.com on Mahindra and Mahindra: In this quarter, M&M's automotive segment witnessed contraction in volumes on a YoY basis. However, the festive season saw a QoQ increase of 9 percent to 129,400 units. However, the tractor segment has continued with its strong momentum and saw 32 percent QoQ growth to 78,400 units. Cost pressure and increase in discouting in automotive segment is likely to lead to a decline in margins by 50 bps QoQ to 12.3 percent. Top line and PAT is expected at Rs 10,500 crore and Rs 880 crore, respectively.
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