Mahindra & Mahindra Q1 net jumps 26%

Driven by robust sales in the automotive segment, Mahindra & Mahindra on Wednesday reported 26 per cent increase in consolidated net profit at Rs 778.5 crore for the quarter ended June 30. It had posted consolidated net profit of Rs 618.3 crore in the year-ago period. Gross sales stood at Rs 9,937.7 crore, against Rs 7,345 crore in the same period last year, up 35.3 per cent, the company said. The financial result includes that of Mahindra Vehicle Manufacturers Ltd, a 100 per cent subsidiary of the company, which is into sourcing contemporary products for expanding the market offerings of the company.