M&M This autumn outcomes: Agency posts internet lack of Rs 3,255 crore, misses Road

M&M This autumn outcomes: Agency posts internet lack of Rs 3,255 crore, misses Road

NEW DELHI: Mahindra & Mahindra on Friday posted a consolidated net loss of Rs 3,255 crore for the quarter ended March 31. It had reported a net profit of Rs 969 crore within the corresponding quarter final yr.

Analysts in an ETNow Ballot had projected a revenue of Rs 441 crore.

Income of the corporate declined 35 per cent YoY to Rs 9,005 crore throughout the quarter beneath evaluation. The board additionally really helpful a dividend of Rs 2.35 per share.

Bottomline of the corporate took a success on account of one-time lack of Rs 3,577.64 crore in Q4FY20.

PAT after distinctive gadgets was primarily impacted on account of write down of funding in Ssangyong and another worldwide subsidiaries”.

“As announced earlier Mahindra Board had decided not to infuse any fresh capital into Ssangyong and is re-examining the business outlook of other international subsidiaries, in view of the current environment, to decide on future capital allocation,” Mahindra & Mahindra stated in a launch.

Generally, the auto business was adversely impacted in March due to the nationwide lockdown on account of Covid-19 outbreak.

Nonetheless, Mahindra & Mahindra managed to extend its market share within the home tractor market to 39.1 per cent in Q4F2020, a development of three.7 per cent over the corresponding quarter final yr.

On a standalone foundation, M&M posted a internet lack of Rs 2,502 crore in Q4FY20 over a internet revenue of Rs 849 crore in Q4FY19.

Shares of the corporate traded 0.46 per cent down at Rs 472 after the announcement of company outcomes, whereas the benchmark BSE Sensex was down 195 factors, or 0.58 per cent at 33,343.

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