The Board of Directors of Mahindra and Mahindra Limited today announced the unaudited financial results for the quarter ended 30th June 2009 for the company and for the consolidated Mahindra Group.

Q1 F2010 – M&M Standalone results
The Gross Revenues and Other Income of Mahindra & Mahindra Ltd. for the quarter ended 30th June 2009 is Rs.4751.3 crores as against Rs.3760.7 crores during the corresponding period last year – a growth of 26.3%. The Net Profit before tax for the quarter is Rs. 538.1 crores as against Rs.213.4 crores in Q1 last year – a growth of 152.1%. After providing for tax, the profit is Rs. 400.9 crores for the current quarter as against Rs. 159.3 crores Q1 last year – a growth of 151.7%. The results of the company for the current quarter include the results of its erstwhile subsidiary Punjab Tractors Ltd. which merged with the company in Q4 last year with effect from 1st August 2008.

The good financial results of the company for the quarter is largely due to a strong sales performance by both Automotive and Farm Equipment Sectors of the company. In the current quarter, the company recorded a volume growth of 28.5% in the Utility Vehicles segment against an industry growth of only 1.6%.

It sold 48,720 UVs in Q1 F2010 as against 37,919 UVs in Q1 last year and thus reinforced its dominant position in the market by increasing its market share to 64.8% in the current quarter from 51.2% in Q1 last year. The volume and market share growth of the company was driven by the sales of Xylo, (launched in January 2009), the refreshed version of the Scorpio (launched in March 2009) and the all time customer favourite ‘Bolero’.

The sale of Swaraj tractors during the quarter was 11628 nos. as against 8812 nos. sold in Q1 last year- a growth of 32.0%. Including the Swaraj Tractors, the company’s market share during the quarter was 43.3%.The merger of the erstwhile Punjab Tractors Ltd. with the company, apart from consolidating the position of the Company in the domestic tractor market, has also enhanced the overall competitiveness of the company on various fronts by leveraging synergies and complementary capabilities. The good financial results in the quarter are also due to company’s continued and relentless focus on cost reengineering aided by the steps taken by the Government to stimulate liquidity and growth.

Q1 F2010 – Group Consolidated Results
The Gross Revenues and Other Income for the quarter ended 30th June, 2009 grew by 4.1% to Rs. 7888.1 crores (USD 1.6 billion) from Rs.7580.9 crores (USD 1.8 billion) in last year. EBITDA before exceptional items and tax for the current quarter is Rs. 1107.8 crores as compared to Rs. 981.4 crores last year - a growth of 12.9%.

The profit before exceptional items and tax for the current quarter is Rs. 676.2 crores as compared to Rs. 661.3 crores last year. The consolidated group profit for Q1 F2010 after exceptional items, prior-period adjustments and tax and after deducting minority interests is Rs.431.9 crores as compared to Rs.409.5 crores earned in Q1 the previous year - a growth of 5.5%.

Courtesy: The Mahindra Group

Popular Mahindra Cars in India:
Mahindra Renault Logan GL 1.4 (Petrol)
Mahindra Renault Logan GLE 1.4 (Petrol)
Mahindra Renault Logan GLX 1.6 (Petrol)
Mahindra Bolero DIZ (Diesel)
Mahindra Bolero DI (Diesel)
Mahindra Scorpio 2.6 LX 7-seater (Diesel)
Mahindra Scorpio 2.6 LX 9-seater (Diesel)
Mahindra Xylo E2 (Diesel)
Mahindra Xylo E4 (Diesel)

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Posted by Naresh Koshti on 31 July, 2009 12:09:45 PM IST #