At 1.31pm Tuesday, shares of Mahindra and Mahindra were up 0.30%, or ₹ 2.80, to ₹ 935.85 on the BSE. Photo: Mint
Bengaluru: India’s Mahindra and Mahindra Ltd reported a better-than-expected 63% surge in first-quarter profit on Tuesday, underpinned by robust sales. Standalone profit after tax, which does not include share of profit from its unit Mahindra Vehicle Manufacturers Ltd, stood at ₹ 1221 crore for the quarter ended 30 June, compared with ₹ 749 crore a year earlier. Analysts on average expected a quarterly profit of ₹ 1174 crore, according to Thomson Reuters I/B/E/S. Revenue from operations grew over 9% to ₹ 135.20 crore.
At 1.31pm Tuesday, shares of Mahindra and Mahindra were up 0.30%, or ₹ 2.80, to ₹ 935.85 on the BSE.