Why did Anand Mahindra say 'I am the storm'? Here's the reason

Mahindra & Mahindra on Tuesday posted 50 percent jump in net profit to Rs 1,155 crore for the March quarter.

Why did Anand Mahindra say 'I am the storm'? Here's the reason

New Delhi: After posting a robust quarterly report, Mahindra and Mahindra Chairman Anand Mahindra is in a real high gear.

Mahindra & Mahindra on Tuesday posted 50 percent jump in net profit to Rs 1,155 crore for the March quarter, driven by robust sales across segments including utility vehicles and tractors.

Anand Mahindra tweeted:

M&M had reported a net profit of Rs 770 crore during the January-March quarter of the previous fiscal. Its revenue and other income rose by 24 percent to Rs 13,355 crore during the fourth quarter of 2017-18, compared to Rs 10,795 crore in the year-ago period, M&M said in a regulatory filing.

For the year ended March 31, 2018 the company posted a net profit of Rs 4,623 crore, up 18 percent, from Rs 3,924 crore in 2016-17.

Revenue for the year rose to Rs 48,529 crore, up 14 percent, from Rs 42,584 crore in 2016-17.

During the fourth quarter, the utility vehicle major sold 1,56,453 units, up 20 percent, from 1,30,778 units in the January-March period of 2016-17.

It sold 66,885 tractors during the period under review, up 44 percent, from 46,583 units in same period of previous fiscal.

With PTI Inputs

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