Automaker Mahindra & Mahindra (M&M) on Monday reported a rise of 6.02 per cent in its net profit at Rs 583.73 crore for the quarter ended March 31, 2016 as compared to Rs 550.56 crore for the same quarter in the previous year, driven by robust sales in the utility vehicle segment.
Total income of the company has increased by 14.58 per cent at Rs 10912.45 crore for quarter under review as compared to Rs 9524.04 crore for the quarter ended March 31, 2015.
For the year ended March 31, 2016, the company has posted a fall of 4.63 per cent in its net profit at Rs 3167.48 crore as compared to Rs 3321.11 crore for the same period in the previous year. However, total income of company increased 6.23 per cent at Rs 41739.83 crore for year under review as compared to Rs 39293.77 crore for the period ended March 31, 2015.
For the year ended March 31, 2016, on the consolidated basis, the company has posted a rise of 2.35 per cent in its net profit at Rs 3211.26 crore as compared to Rs 3137.47 crore for the same period in the previous year. Total income of company has increased by 9.15 per cent at Rs 78556.6 crore for year under review as compared to Rs 71973.03 crore for the period ended March 31, 2015.
On the outlook, M&M said that while the macroeconomic environment in India continues to improve, the pace of growth recovery has thus far remained modest and patchy.
“With external demand remaining sluggish, a rural economy battered by two consecutive drought years, gridlocked infrastructure projects and a private corporate sector reeling under the burden of slowing sales and rising balance sheet stress, urban consumption demand, FDI and public investments and public capital expenditure were the only drivers of growth left standing through most of the year,” the company said in its regulatory filing.