(PTI) Mahindra & Mahindra Ltd on Friday reported a consolidated profit after tax of ₹2,360.70 crore in the first quarter ended June 30, driven by strong performance of its automotive and farm sector segments.
The company had posted a consolidated loss after tax of ₹331.74 crore in the year-ago period, M&M said in a regulatory filing.
Revenue from operations increased to ₹28,412.38 crore in the first quarter this fiscal, as compared to ₹19,171.91 crore in the corresponding period a year ago, it added.
Total expenses during the quarter were higher at ₹26,195.01 crore, as against ₹20,286.24 crore in the same period a year ago, the company said.
The automotive segment clocked revenue of ₹12,740.94 crore in the quarter, up from ₹6,316.79 crore in the same period last fiscal.
In volume terms, the company said it sold 1,49,803 vehicles in the quarter under review, as compared to 85,858 vehicles in the year-ago period, a growth of 74 per cent.
The farm equipment vertical had a revenue of ₹8,427.66 crore, as compared to ₹7,188.74 crore in the year-ago quarter, the company said.
Tractor sales were at 1,17,413 units in the quarter under review, as compared to 99,127 units in the same period a year ago, up 18 per cent.
"We saw good momentum across all our group companies, led by the strong results of the auto and farm sector," M&M Ltd Managing Director & CEO Anish Shah said.
The financial services segment registered ₹2,876.61 crore revenue in the first quarter, up from ₹2,530.15 crore in the same period a year ago, while the hospitality vertical clocked revenue ₹613.19 crore, up from ₹393.76 crore in the same period last fiscal, it added.
Real estate vertical, however, clocked lower revenue at ₹94.82 crore as compared to ₹149.51 crore in the same period last fiscal.