M & M net declines

By Our Special Correspondent

MUMBAI, OCT. 25. Mahindra & Mahindra has reported a lower net profit of Rs. 47.45 crores for the first half of the current fiscal against Rs. 111.64 crores in the corresponding period last year.

Net sales and income from operations were Rs. 1,688.43 crores against Rs. 1,703.03 crores and the profit before depreciation, interest and tax, Rs. 152.48 crores against Rs. 239.77 crores. The sum set aside for depreciation is Rs. 66.36 crores against Rs. 59.20 crores. Interest charges claimed Rs. 29.66 crores against Rs. 40.81 crores.

Net sales and income from operations for the second quarter were Rs 839.94 crores against Rs. 826.15 crores in the corresponding quarter of the previous year. The net profit for the second quarter of the current year is Rs. 13.18 crores against Rs. 60.37 crores.

The company's share in the tractor segment has improved significantly to 35.7 per cent in the first half of the current year from 28.8 per cent in first half in the last year. During the first half, the company sold 40,150 tractors against 36,658 tractors in the corresponding period last year, registering a growth of 9.5 per cent, eventhough the industry has witnessed a decline of around 11 percent.

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Section  : Business
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