The Company has posted a net profit of Rs. 1220.60 million for the quarter ended June 30, 2016 as compared to Rs. 1959.70 million for the quarter ended June 30, 2015.
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Total revenue during the quarter under review stood at Rs 11,942.9 crore as against Rs 10,470.86 crore in the year-ago period, up 14 per cent. M&M maintains its market leadership position of 31.6 per cent in utility vehicle space, up 13 per cent on a YoY basis.
India’s main auto industry body, in April, almost halved its growth forecast for passenger vehicle sales in the current financial year to 6-8 percent, saying demand could weaken after the sudden regulatory changes to curb pollution.
EBITDA too rose higher at 24.1 per cent to Rs. 247.1 crore in the first quarter of fiscal 2016-17 from Rs. 199.1 crore in the comparable quarter of prior fiscal.
Analysts say above normal monsoon rains and the implementation of the 7th Pay Commission wage hike will help the sale of M&M’s vehicles.
“Our outlook on domestic growth remains positive and we look to the future with confidence”, M&M said in a statement.
At 1.47pm, M&M was trading at Rs.1,461 on the BSE, down 1.32% from its previous close, while India’s benchmark Sensex index fell 1% to 27,821.95 points.
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The BSE group “A” stock of face value Rs. 1 has touched a 52 week high of Rs. 131 on 29-Jul-2016 and a 52 week low of Rs. 76.9 on 21-Jan-2016.
