Mumbai, Oct 26: Utility vehicles major Mahindra&Mahindra Ltd has posted a profit after tax of Rs 386.47 crore for the quarter ended September 30, 2006 as compared to Rs 157.20 crore for the quarter ended September 30, 2005, a jump of 145.84 per cent.
Announcing the results, the company said its total income (net of excise) has increased from Rs 1944.24 crore for the quarter ended September 30, 2005 to Rs 2563.41 crore for the quarter ended September 30, 2006.
Giving the outlook for the current fiscal, the Indian economy continues to maintain a healthy momentum. Driven by an improvement in manufacturing activity and a robust services sector performance, real GDP grew by a healthy 8.9 percent in Q1 of the current fiscal.
With the Index of Industrial production showing a rise of 10.6 per cent in the April-August period and crude oil prices stabilizing at levels lower than expected, the economy is expected to maintain robust growth through the rest of the year. The Company expects to maintain a healthy market performance in the second half of the year.