Mahindra Q4 net down 39% at 550cr

Utility vehicle maker Mahindra and Mahindra on Friday reported a 39% year-onyear fall in fourth quarter net profit at ` 551 crore, as tractor and utility vehicle sales dipped.

Quarterly net sales were down 13% from a year ago to ` 9,412 crore. “Revenue for the quarter was 14% ahead of our estimates as realisations in both automotive and farm equipment segment improved dramatically,” said brokerage firm Reliance Securities.

Combined with its subsidiary Mahindra Vehicle Manufacturers, net profit for the quarter was ` 586 crore, down almost 50%, and revenue ` 10,187 crore, down 8%.