NEW DELHI: Utility vehicle and tractor manufacturer Mahindra & Mahindra on Tuesday reported a 67 per cent growth in net profit at Rs 1,257 crore for the quarter ended June (Q1 FY2019), as against Rs 752 crore reported in the same quarter last year.
The company’s revenue came in at Rs 13,358 crore, a growth of about 23 per cent over the same period last year, when it was Rs 10,877 crore. Operating profit margin at 15.8 per cent for the quarter was up 260 basis points over 13.8 per cent in the year-ago quarter.
The Mumbai-based automaker clocked total automotive volume of 1,40,101 units, a growth of 20 per cent, during the June quarter.
The company informed that the growth was led by a resurgent demand for trucks and three-wheelers. While its passenger vehicle segment grew 9 per cent to 60,779 units during the June quarter, its commercial vehicle sales grew 23 per cent to 56,940 units.
Total tractor volumes for the company rose 19 per cent to 1,00,784 units. On the future outlook, the company said that both rural and urban consumption was healthy on the back of a normal monsoon and RBl’s GDP growth forecast for 2018-19.
The company sees US tariffs as a risk due to the anticipated tariff increases by the US and retaliatory measures by trading partners.