India’s top SUV and tractor maker, Mahindra & Mahindra (M&M) has reported a steeper than expected decline in its Q1 FY21 profit
India’s top SUV and tractor maker, Mahindra & Mahindra (M&M) has reported a steeper than expected decline in its Q1 FY21 profit. The company has registered a 97 percent year-on-year decline in profit because of the lockdown induced due to COVID-19 hit volumes.
Profit, including Mahindra Vehicle Manufacturers, which is a 100 percent subsidiary of the company, stood at Rs 67.8 crore against Rs 2,259 crore in the same period last year.
Here's 3 point analysis of its earnings and the outlook going forward for the company.First Published on Aug 7, 2020 10:49 pm