M&M Q2 profit down 2% at Rs 924 cr
.jpg)
Homegrown auto major Mahindra & Mahindra today reported 2.43% decline in standalone net profit at Rs 923.56 crore for the second quarter ended September 30, 2015-16.
It had posted net profit of Rs 946.63 crore in the July- September period of the 2014-15 fiscal, Mahindra & Mahindra said in a filing to BSE.
Its net sales during the period under review stood at Rs 9,121.79 crore as against Rs 9,284.88 crore in the year-ago quarter, down 1.75%.
M&M along with its wholly-owned arm Mahindra Vehicle Manufacturers Ltd (MVML) sold 45,228 utility vehicles during the second quarter of the current fiscal, while tractor sales stood at 42,268 units in the domestic market.
On the outlook, the company said: "With investment sentiment picking up and tail winds from falling interest rates likely to bolster urban consumption demand further, we expect growth to step up pace in the second half of the current fiscal."
M&M stock was trading at Rs 1,220.45, down 3.15%, on the BSE.
Other Latest News
.webp)
Telugu Desam Party quitting NDA in 2018 was not a mistake, senior party leader and former Civil Aviation Minister P Ashok Gajapati Raju has said.
The regional party rejoining the alliance (NDA) was justified as BJP is saying it would do "something" for Andhra Pradesh, he added.
.webp)
China will never treat India as an equal partner and by amassing troops on the border, Beijing is forcing New Delhi to spend more money on defence than capital investment, Mukesh Aghi, the head of a top US-based India-centric business and strategic group has said.
The militaries of India and China have been locked in a standoff since May 2020 and a full resolution of the border row has not yet been achieved though the two sides have had several rounds of talks at the diplomatic and military levels.
.webp)
The Enforcement Directorate on Monday claimed to have recovered a huge amount of "unaccounted" cash during searches of premises allegedly linked to an aide of a state minister, official sources said.
Video footage shared by the sources showed wads of currency notes spread in a room that is alleged to be of the domestic help of the private secretary of rural development minister Alamgir Alam.
.webp)
Australia's Qantas Airways agreed to pay A$120 million ($79 million) to settle a regulator lawsuit over the sale of thousands of tickets on already cancelled flights, in an attempt to end a reputational crisis that has engulfed the airline.
The company will split A$20 million between more than 86,000 customers who booked tickets on the so-called "ghost flights" and pay a A$100 million fine instead of defending the lawsuit that it had previously vowed to fight, Qantas and the Australian Competition and Consumer Commission (ACCC) said on Monday.
.webp)
Billionaire investor Warren Buffett said that the Indian market has unexplored opportunities which his conglomerate holding company, Berkshire Hathaway, would like to explore in the future".
Buffett's remarks came at Berkshire's annual meeting on Friday when Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world's fifth-largest economy.
.webp)
.webp)
.webp)
.webp)
.webp)
