Auto major Mahindra & Mahindra on Monday reported 3.18 per cent rise in its consolidated profit after tax for the quarter ended September 30 at Rs 761.5 crore on account of contributions from its subsidiary — Mahindra Vehicle Manufacturers Ltd (MVML).
The company had posted PAT of Rs 738 crore in the same period last fiscal, Mahindra & Mahindra (M&M) said in a filing to the Bombay Stock Exchange (BSE). The consolidated total revenue during the second quarter this fiscal also increased 33.86 per cent to Rs 8,298.8 crore from Rs 6,199.6 crore in the year-ago period, it added. M&M's standalone PAT declined by 2.78 per cent to Rs 737.4 crore in the July-September quarter, from Rs 758.5 crore in the same period last year, the company said.
The total standalone revenue during the last quarter went up by 33.15 per cent to Rs 8,198.7 crore from 6,157.3 crore in the corresponding period of 2010-11 fiscal, it added. "The company could maintain its profits despite the relentless increase in material costs due to a good volume performance by both vehicles and tractors in a difficult market and a tight control on expenses," M&M said.
During the second quarter, sales of M&M's passenger utility vehicle segment grew 14.2 per cent at 47,523 units over the same period last year, the filing said. "While all products in the company's UV portfolio did well, the quarter belonged to the company's newly launched global vehicle XUV500," it added.
