Mahindra & Mahindra Ltd., or M&M, manufacturers of tractors in India, reported a consolidated net profit and income for the third quarter.
The Mumbai-based company posted a third-quarter consolidated net profit, after minority interest, of Rs.1,254.30 crore or Rs.20.43 per share, while the same was at Rs.831.80 crore or Rs.13.54 per share in the third-quarter of last year.
For the quarter, gross income and other income totaled Rs.19,066.79 crore, while the company reported Rs.16,355.57 crore in the year-ago quarter.
In view of the disposal of shares by a joint venture partner, Tech Mahindra Ltd., became an associated of the company effective September 1, 2012. It gross revenue and other income have been included in this consolidation only up to August 31, 2012. Hence the consolidated revenue for the quarter and cumulative period are not strictly comparable with that of the corresponding period in the preceding year, the company said.
The company, a part of the $15.9 billion Mahindra Group, announced the launching of its new Maxximo Plus, the country's most technologically advanced 0.85 ton payload mini-truck, on Monday priced attractively at Rs.3.40 lakh (ex-showroom Thane).
At the BSE, Mahindra & Mahindra closed Monday's trading at Rs.885.35, down 0.15 percent from the previous close.
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