Q3: M&M net profit zooms to Rs 413.7 cr

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Q3: M&M net profit zooms to Rs 413.7 cr
Mumbai, Jan 25: Mahindra and Mahindra (M&M) on Monday, Jan 25, reported a net profit rise to Rs 413.7 crore in the third quarter which ended Dec 31, 2009.

The company said the gross revenue also saw huge increase of 51.2 percent to Rs.4,920.3 crore against Rs 3,255.1 crore in the year-ago period.

"While the lower base for third quarter last year has had an impact on growth percentages, the financial results are nevertheless outstanding largely due to a strong sales performance by both automotive and farm equipment sectors," the company said in a statement.

However, M&M said that rising commodity prices could put margins under pressure in the coming months.

"The company expects to counter it by a strong volume performance and a persistent focus on cost control," it said.

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