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

Q2 F2010 – M&M Standalone results
The Gross Revenues and Other Income of Mahindra & Mahindra Ltd. for the quarter ended 30th September 2009 is Rs.5188.9 crores as against Rs.3935.0 crores during the corresponding period last year – a growth of 31.9%. The Profit before tax excluding exceptional items for the quarter is Rs.862.5 crores as against Rs.235.9 crores in Q2 last year – a growth of 265.6%. During the quarter, the company sold 33,69,191 equity shares from out of its holdings in its subsidiary Mahindra Holidays and Resorts India Ltd. (MHRIL) as a part of the IPO of that company at a price of Rs.300 per share. There was an exceptional profit before tax of Rs.90.8 crores arising from this sale. After considering exceptional items and providing for tax, the net profit for the current quarter is Rs.702.9 crores as against Rs.205.7 crores in Q2 last year – a growth of 241.7%.

The outstanding financial results of the company for the quarter are largely due to a strong sales performance by both Automotive and Farm Equipment Sectors and the company’s continued and relentless focus on cost reengineering and cost control.

In the current quarter, the company recorded a volume growth of 43.7% in the Utility Vehicles segment against an industry growth of 21.4%. It sold 55,280 UVs in Q2 F2010 as against 38,462 UVs in Q2 last year and thus reinforced its dominant position in the market by increasing its market share to 64.9% in the current quarter from 54.8% in Q2 last year. The volume and market share growth of the company was driven by the excellent sales of Xylo as well as the refreshed version of the Scorpio and the all time customer favourite ‘Bolero’. In the pick-up segment, the company strengthened its leadership position with a volume growth of 26% and a market share of 82.2%. In this segment it also launched its stylish new pick-up ‘Bolero Maxi Truck’ with micro hybrid technology.

The domestic tractor industry sales during the quarter grew strongly by 27.1% to 93,105 tractors against 73,227 tractors sold during Q2 last year. The company’s domestic tractor sales under Mahindra and Swaraj brands were 38811 nos. during the quarter against 29305 nos. sold in Q2 last year- a growth of 32.4%. The company’s total market share during the quarter stood at 41.5% as against 39.8% in Q2 last year.

H1 F2010 – M&M Standalone Results
The Gross Revenues and other income of Mahindra & Mahindra Ltd. during the half year ended 30th September 2009 is Rs.9940.2 crores as against Rs.7621.0 crores in the corresponding period previous year – a growth of 30.4%. The Net Profit after considering exceptional items and tax for the current H1 is Rs.1103.8 crores as against Rs.375.2 crores in H1 previous year - a growth of 194.2%.

Q2 F2010 – Group Consolidated Results
The Gross Revenues and Other Income for the quarter ended 30th September 2009 grew by 6.4% to Rs.8262.2 crores (USD 1.7 billion) from Rs.7768.8 crores (USD 1.6 billion) in Q2 last year. The profit before exceptional items and tax for the quarter is Rs.1080.3 crores (USD 220.9 million) as compared to Rs.623.3 crores (USD 127.4 million) in Q2 of F2009. The Consolidated profit after tax for Q2 after considering the MHRIL IPO profit and deducting minority interests is Rs.843.6 crores (USD 172.5 million) as against Rs.373.3 crores (USD 76.4 million) earned in Q2 previous year – a growth of 126% H1 F2010 – Group Consolidated Results

The Gross Revenues and Other Income for the half year ended 30th September 2009 grew by 5.2% to Rs.16150.31 crores (USD 3.3 billion) from Rs.15349.7 crores (USD 3.1 billion) in H1 last year. The profit before exceptional items and tax for the current year is Rs.1756.6 crores (USD 359.2 million) as compared to Rs.1284.6 crores (USD 262.7 million) in H1 F2009. The Consolidated profit after tax for H1 after considering the MHRIL IPO profit deducting minority interests is Rs.1275.5 crores (USD 260.8 million) as against Rs.782.9 crores (USD 160.1 million) earned in H1 previous year – a growth of 62.9%.

Courtesy: The Mahindra Group

Top Selling Mahindra Cars Prices & Specifications:
Mahindra Renault (Sedan)
Mahindra Bolero (SUV)
Mahindra Scorpio (SUV)
Mahindra XYLO (SUV)

Related News:
M&M’s offers 4 year warranty on Xylo this Diwali
M&M’s record breaking domestic auto sales in September 2009
Mahindra features in Forbes' Asian Fab 50 list
Renault targets 1200 Logan in North

Related Books:
How to Save $$$ Buying a New Car
Lemon-Aid: New Cars and Minivans
Confessions of a New Car Salesman: The "How To" Buy a New Car, Made Simple

Add a comment

Posted by Naresh Koshti on 30 October, 2009 2:44:24 PM IST #