 "Mahindra’s Q3 net rises over two-fold on strong operational performance")
Mahindra and Mahindra’s (standalone) net profit jumped two-and-a-half times year-on-year (YoY) in the December quarter (Q3). It was aided by a low base as the company had reported an impairment worth Rs 1,214 crore for certain long term assets in the year-ago quarter.
The pre-tax net profit before exceptional items fell 26.5 per cent year-on-year to Rs 1,644.7 crore due to a jump in the total expenditure, including the cost of raw materials.
Despite a 9 per cent contraction in tractor volumes and 2 per cent in automobiles (including SUVs and commercial vehicles) the company’s net profit for the standalone entity (after
