Mahindra and Mahindra Ltd on Friday reported a 26.5 per cent drop in quarterly net profit as the company struggled to sell cars, trucks and tractors amid a slowdown in Asia's third-largest economy. Unit sales at the maker of popular sports utility vehicles like Scorpio and Thar dropped 21% for the quarter, with the industry facing issues of credit crunch, higher insurance costs and a shift towards ride-hailing services. Last month, larger rival Maruti Suzuki India flagged 30.2% slide in unit sales for the September quarter. Net profit after tax for Mahindra came in at Rs ...
NGC Energy to set up Rs 400 cr LPG import and storage unit at Krishnapatnam
BPCL privatisation: No Cabinet decision yet on govt's disinvestment plans
Mahindra and Mahindra Q2 net down 27% on sales drop amid auto slowdown
Last month, larger rival Maruti Suzuki India flagged 30.2% slide in unit sales for the September quarter.
Topics
Mahindra & Mahindra | Q2 earnings | M&M
Reuters |
This article is no longer available in our repository.
There could be multiple reasons for this.
You could try searching for this headline on the source website (reuters.com).