M&M bottomline zooms 184% to Rs 87.42 crore

Mahindra and Mahindra (M&M) has recorded a 184 per cent growth in net profit at Rs 87.42 crore in the third quarter of the current fiscal as against Rs 30.79 crore in the corresponding quarter of the pervious fiscal, propped by higher volume sales.

Net income increased 38 per cent at Rs 1327.64 crore (Rs 960.00 crore). Mahindra's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 63.38 per cent at Rs 187.95 crore.

The company's net profit was up 109 per cent in the nine months ended December 2003 at Rs 202.91 crore. Net sales and operating income rose 32 per cent at Rs 3439.01 crore.

In the farm equipment segment, M&M's sales grew 21 per cent at 14,841 tractors in the third quarter of the current fiscal. Domestic utility vehicle sales improved 32 per cent to 24.087 units.

In the LCV segment, the company posted a growth of 3 per cent and in the three-wheeler segment sales were up 58 per cent at 4454 units.