Mahindra and Mahindra Group register a high in consolidated results for Ql FY2013
Mahindra and Mahindra Ltd. has registered 23.7% Gross Revenue & Other Income for the financial quarter that ended on 30th June 2012. This is an increase to 17,670.8 crore from 14,281.1 crore in Q1 of the previous financial year. These stats are in relation to gross revenue and other income pertaining to Mahindra and Mahindra Ltd.
Consolidated group profit for this quarter was 55% more than the previous year in this same period. The amount was Rs. 1,026.4 crore as compared to Rs. 662.3 crore in the same quarter last year. Major group companies of Mahindra have subsequently improved their performances as compared to last year.
Consolidated revenue and profit of Mahindra finance was 52% and 64%, 31% and 56% for Mahindra Satyam while Mahindra Lifespaces registered a 28% increase in revenue and 72% in profits. 115 subsidiaries, 6 joint ventures and 11 associates make up the Mahindra group. Summation of gross revenues and profit of M&M for Ql FY2013amounts to Rs. 20476.9 crore and 1405.3 crore respectively.
News release Mahindra and Mahindra Limited -Group Consolidated Results Ql F2013 (not subjected to Limited Review by Auditors).
• Gross Revenue & Other Income grows by 23.7%
• Consolidated Group Profit grows by 55.0%
The Gross Revenue and Other Income for the quarter ended 30th June 2012 grew by 23.7 % to Rs. 17,670.8 crore (USD 3.5 billion) from Rs. 14,281.1 crore (USD 2.8 billion) in Q1 previous year. The consolidated group profit for the quarter ended 30th June 2012 after deducting minority interests is Rs. 1,026.4 crore (USD 204.8 million) against Rs. 662.3 crore (USD 132.1 million) in Q1 previous year- a growth of 55.0%.
During the current quarter, some of the major group companies like Mahindra Finance, Mahindra Satyam and Mahindra Lifespaces significantly improved their performance over Q1 previous year. Mahindra Finance grew its consolidated revenue by 52% and its profit by 64%, Mahindra Satyam’s consolidated revenue grew by 31% with a 56% increase in its profits and Mahindra Lifespaces revenues grew of 28% with a profit growth of 72%.
As on 30th June 2012, the Group comprised of 115 Subsidiaries, 6 Joint Ventures and 11 Associates. A full summation of Gross Revenues and other income of all the group companies taken together for the three months ended 30th June 2012 is Rs. 20476.9 crore (USD 4.1 billion) and of Profits before Minority Interest Rs. 1405.3 crores (USD 280.4 million).
Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 30th June, 2012.