Passenger car platform on cards

Mumbai, May 28 | Updated: May 29 2007, 05:30am hrs
Mahindra & Mahindra Ltd posted a profit after tax of Rs 1,497.1 crore for year ended 2006-07, up 17.9% from Rs 1269.7 crore posted in 2005-06. The gross revenue of the company saw an increase of 39.7% for the year ended March 31, 2007 at Rs 19,346.8 crore as against Rs 13,908.4 crore posted for the year ended March 31, 2006. The company's net profit for the fourth quarter ended March 31, 2007 stood at Rs 166.2 crore as against Rs 599.3 crore earned in Q4 last fiscal. The gross revenue for the quarter saw a leap of 40.6% at Rs 5,882.30 crore against Rs 4,183.9 crore posted for the same period in the previous year. The M&M stock rose 1.16% to close at Rs 740.25 on the Bombay Stock Exchange on Monday.

Two new platforms

Speaking at the conference, Pawan Goenka, president, automotive sector said, Apart from Ingenio, which is well on its way, we are also working on two new platforms, one for an upmarket SUV and the other, a mass market vehicle in the cargo as well as the passenger car segment.

With this, along with Ingenio, M&M would be coming out with vehicles in three brand new platforms.