Mahindra and Mahindra, India’s top utility vehicles and tractor maker, on Thursday beat expectations with near-doubling in quarterly net profit.
Company’s Q4 net profits rose by about 89% as compared to last year Q4 net profits.
Mahindra, which aims to enter the US market with a pick-up truck and sport utility vehicle early next year, announced that its net profit rose to Rs 418 crore in the fiscal fourth quarter ended March from Rs 221 crore a year ago.
Net sales rose to Rs 3619 crore from Rs 3148 crore.
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