M&M pre-tax profit skids 15%, revenue falls 15% as overall sales decline

A higher contribution of tractors in the overall sales mix helped Mahindra & Mahindra (M&M) beat estimates for the September quarter (Q2). It, however, could not cushion the impact of an overall decline in volumes, resulting in a 15 per cent year-on-year (YoY) fall in its profit before tax (before exceptional items) and a 15 per cent drop in revenue.
 
The Mumbai-based firm remained cautious in its outlook on passenger vehicles amid a prolonged slowdown and disruptions expected the switchover to BSVI emission norms.
 
PBT at M&M and MVL (company’s manufacturing unit) dropped to Rs 1,758 crore from