Homegrown farm equipment and utility vehicles major Mahindra & Mahindra Ltd (M&M) on Friday reported a 6 per cent fall in its consolidated profit after tax from continuing and discontinued operations to Rs 159.60 crore for the December 2020 quarter.
The company had posted a consolidated profit after tax from continuing and discontinued operations of Rs 170.69 crore in the corresponding period last fiscal, M&M said in a regulatory filing.
Its consolidated revenue from operations during October-December 2020 stood at Rs 21,625.95 crore against Rs 19,430.29 crore a year ago.
The company named Tech Mahindra’s Manish Bhat as the chief financial officer of the Mahindra group, who will take over from Anish Shah. The latter will take over as the managing director and chief executive of the company.
Hero MotoCorp
Hero MotoCorp, the world’s largest two-wheeler manufacturer, on Friday reported its highest-ever revenue for the quarter.
The company’s revenue from operations for the October-December quarter of 2020 stood at Rs 9,776 crore against Rs 6,997 crore a year ago. The profit after tax stood at Rs 1,029 crore, a 13.7 per cent rise over Rs 905.13 crore a year ago.
This has been possible because of robust sales during the quarter and a combination of key strategic initiatives such as cost reduction efforts to partially offset the impact of the commodity costs and intense operational efficiencies.