PERFORMANCE STREET

M& M PROFIT DOWN 11% TO ` 1,077 CR PURAVANKARA Q3 PROFIT UP 6%

Mahindra & Mahindra reported 11.44 per cent decline in standalone profit after tax ( PAT) at 1,076.81 crore. The company had posted a PAT of 1,215.89 crore, M& M said.

Total income under review stood at 13,411.29 crore. It was at 11,676.05 crore.

Vehicle sales stood at 1,33,508 units as against 1,21,786 units, a growth of 10 per cent, the company said.

Passenger vehicle sales for the festive season did not match the industry expectation primarily due to softening of urban demand, the company said.

Tractor sales were also up 13 per cent to 87,036 units as against 76,943 units, it added.

The company further said it exported 12,363 vehicles, as compared to 11,426 units, up 8 per cent, a year ago. Puravankara reported a 6 per cent increase in consolidated net profit at 27.18 crore.

Its net profit stood at 25.64 crore, the company said.

Total income rose 24 per cent to 565.66 crore from 454.90 crore.

The company’s MD Ashish R Puravankara said: “The company continues to deliver a steady performance, with a strong focus on execution, sales and collections across both ongoing and ready- tomovein projects. Regular sales acceleration from the bucket of ready stock are up yet again, and this inventory is lower for the fifth quarter running.”