Consolidated revenue from operations dipped 7.2 per cent at Rs 26,041.02 crore in Q1 FY’20 against Rs 28,061.51 crore in the same period year ago.
New Delhi: Home-grown auto major Mahindra and Mahindra on Wednesday reported a steep 52.5 per cent decline in its consolidated profit after tax (PAT) for the first quarter ended June 30, 2019 due weak performance of its three business verticals – automotive, farm equipment and financial services.
The company posted Rs 1,884.66 crore PAT in Q1 FY’19, as a regulatory filing.
Consolidated revenue from operations dipped 7.2 per cent at Rs 26,041.02 crore in Q1 FY’20 against Rs 28,061.51 crore in the same period year ago.
On standalone basis, the automaker posted a sharp jump of 89.5 per cent at Rs 2,313.82 crore on the standalone basis as compared to Rs 1,220.96 crore in the year ago period, majorly boosted by exceptional items.
The revenue from operations, however dipped by 4.4 per cent at Rs 12,922.72 crore in this quarter as compared to Rs 13,519.91 crore in the year ago period.
During the period under review, the company sold a total of 1,23,690 units in FY’ 2020, down 5 per cent, compared to 1,30,484 units in Q1 FY’18
Sales of tractors dipped by 15 per cent at 82,013 units during April-June quarter of this financial year as against 96,527 units in the same month year ago.
Exports also dipped by 14 per cent at 10,923 units in the Q1 FY’20.
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