Mahindra Registers 60% Profit In Q3 FY2019, Total Profit Rs. 1,470 Crore

Mahindra Group today announced its official financial results for the third quarter of the 2018-19 financial year. Between November and December 2018, the utility vehicle manufacturer's total profit after tax accounted for Rs. 1470 crore, registering a 60 per cent growth, against the Rs. 920 crore bagged during the same period last fiscal year. The company total revenue for the last quarter reached Rs. 13,235 crore, seeing a growth of 14 per cent from Rs. 11,594 crore earned in Q3 FY2018.

Mahindra's Q3 FY2019 Results (in crores)

In the Q3 FY2019, Mahindra's revenue from other income sources stood at Rs. 340.93 crore against Rs. 98.28 crore earned during the same period a year ago, seeing a surge of over 71 per cent. This also includes Rs. 203.56 crore which the company collected as dividends from subsidiaries, associates and joint ventures firms. The company's operating margin in the last quarter fell to 13.2 per cent from 14.7 per cent.

Mahindra sold over 1.33 lakh passenger vehicles in the last quarter, a growth of 10 per cent

As for the company volumes, the company sold over 1.33 lakh passenger vehicles in the last quarter, a growth of 10 per cent, compared to the 1.21 lakh units sold during the same period last year. The company's tractor sales grew by 87,036 units, against 76,943 sold in the Q3 of FY2018, a growth of 13 per cent. As for exports, the collective numbers (PV and tractor) reached 12,363 units, a growth of 8 per cent 11,426 units during the same period of 8 per cent.

As for the industry itself, Mahindra says that the auto sector's growth in Q3 FY2019 was flat with a de-growth of 0.3 per cent, which was driven by the Passenger Vehicle industry reporting a de-growth of 0.8 per cent and the MHCV goods industry de-growing by 8.2 per cent. The company said that passenger vehicle sales for the festive season (Sep+ Oct+ Nov) were not up to industry expectation primarily due to softening of urban demand, which was subdued largely on account of an uncertain economic scenario arising from the dollar rate movement, fuel prices and stock market performance.