Mumbai, May 28: Mahindra and Mahindra (M&M) on Thursday, May 28 posted its fourth quarter results that beat the forecasts and revealed a whopping quarterly net profit.
M&M said its net profit went up to Rs 4.18 billion ($87.6 million) in the fiscal fourth quarter ended March 31 2009 from Rs 2.21 billion a year ago. The company's net sales rose to Rs 36.19 billion from Rs 31.48 billion.
A Reuters poll predicted a net profit of Rs 1.97 billion and a net sales of Rs 34.01 billion. Beating these predicitions India's top utility vehicles and tractor maker surged on the markets on Thursday, May 28