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Mahindra and Mahindra fourth quarter profit down 38.61 percent

On Friday, Mahindra and Mahindra has reported 38.61 percent decline in the standalone net profit at Rs 550.56 crore for the fourth quarter ended March 31.

Mahindra and Mahindra said in a filing to Bombay Stock Exchange (BSE) that the company has posted a net profit of Rs 896.88 crore in the corresponding period of the previous fiscal.

“In the fourth quarter, Mahindra & Mahindra along with its wholly-owned arm Mahindra Vehicle Manufacturers (MVML) sold 57,027 utility vehicles, while tractor sales stood at 34,682 units”, the company said.

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