M&M + MVML Revenue Rs. 12,049 crore – up 18%
M&M + MVML PAT Rs. 1,253 crore – up 29%
Mumbai, November 11, 2016: The Board of Directors of Mahindra and Mahindra Limited today announced
the unaudited financial results of the company for the quarter ended 30 th September, 2016. The results are
being published under the new Indian Accounting Standard (IND AS) which became applicable from 1 st April
Q2 F2017 – M&M + MVML* Results
– Gross Revenues and Other Income Rs. 12,049 crore, up 18% YoY
– Profit from ordinary activities before tax Rs. 1,740 crore, up 34% YoY
– Profit from ordinary activities after tax Rs. 1,253 crore, up 29% YoY
– 114,795 vehicles sold, a YoY growth of 11.6%
– 52,287 utility vehicles sold, a YoY growth of 15.6%
– 57,863 tractors sold in the domestic market, a YoY growth of 36.9%
– Total exports of 15,181 numbers (11,385 vehicles & 3,796 tractors), a YoY growth of 13.3%
Q2 F2017 – M&M Standalone results
– Gross Revenues and Other Income Rs. 12,071 crore, up 17% YoY
– Profit from ordinary activities after tax Rs. 1,163 crore, up 27% YoY
H1 F-2017 – M&M + MVML Results
– Gross Revenues and Other Income Rs. 24,010 crore, up 16% YoY
– Profit from ordinary activities before tax Rs. 3,058 crore, up 25% YoY
– Profit from ordinary activities after tax Rs. 2,215 crore, up 23% YoY
H1 F-2017 – M&M Standalone results
– Gross Revenues and Other Income Rs. 24,231 crore, up 16% YoY
– Profit from ordinary activities after tax Rs. 2,118 crore, up 20% YoY
Copyright © 2016 Mahindra & Mahindra Ltd. All rights reserved. 2
India’s macro economic story is slowly but surely taking shape although data on industrial production and
slow trade growth continued to act as ceilings to India’s growth. The IMF avers that in the current – and
projected – global scenario, India will continue to standout with the fastest growth rate. And this prognosis is
not without reason. After two years of sub-par rainfall, this year's monsoon has been abundant and well
spread which will help revive farm income and push up private consumption.
The first advance estimates released by the agriculture ministry for Kharif crops this year suggests a record
output, higher by 9%. Higher soil moisture due to the good monsoon also augurs well for the Rabi crop.
Higher crop output will help improve spends on agri-inputs and services. Moreover, prices of key agricultural
inputs have stabilized which signal that farmer balance sheets are on the mend now and this will help revive
the overall rural economy.
Importantly, there is discernible traction on reforms including GST which augurs well for India’s growth
trajectory. Moreover, there are signs of demand recovery manifesting through broader consumption pick-up
in growth rates in automobile sales, air passenger traffic and retail loans.
The Seventh Pay Commission and the OROP scheme award has put money in the pockets of government
employees and pensioners which will further help demand. The lag effects of interest rate cuts by the RBI
along with the increased transmission of lower interest rates will also be supportive of consumption. All of
these bode well for broad-based consumption led growth in the coming quarters.
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