Mahindra & Mahindra Ltd. - Q1 Group Consolidated Gross Revenue grows by 66.2%

For Q1 - Gross Revenue & Other Income grows by 66.2%. Consolidated Group Profit for the year grows by 6.7%. End Quote

(1888PressRelease) August 19, 2011 - Mumbai: Q1 F2012 - Group Consolidated Results (not subjected to Limited Review)

The Gross Revenue and Other Income for the quarter ended 30th June 2011 grew by 66.2 % to Rs. 14,256.0 crore (USD 3.1 billion) from Rs.8,576.2 crore (USD 1.9 billion) in last year. The consolidated group profit for the year after deducting minority interests is Rs.662.3 crore (USD 146.0 million) as compared to Rs.620.8 crore (USD 136.9 million) earned in the previous year - a growth of 6.7%.

The numbers for the current quarter as reported above are not strictly comparable with those of Q1 last year since the previous year Revenue and PAT did not include those of Ssangyong Motor Company Limited and its subsidiaries and share in PAT of Satyam Computer Services Limited. On a comparable basis the growth in Group revenue in Q1 F2012 over Q1 F2011 is 31.9% and that in PAT after deducting minority interests, 15.2%.

During the current quarter, some of the major group companies like Tech Mahindra, Mahindra Finance, Mahindra Forgings, Mahindra Holidays, Mahindra Lifespaces and Mahindra Satyam significantly improved their performance over Q1 of the previous year. Mahindra Finance consolidated revenue grew by 42% to Rs 584.6 crore and its profit at Rs 105.5 crore by 32%. The consolidated revenue of Tech Mahindra grew by 14% to Rs 1292.5 crore and its profit (excluding share of profit of Satyam Computer Services Limited) at Rs 180.5 crore by 25%. Mahindra Satyam did exceedingly well recording a growth of 15% in consolidated revenue at Rs 1433.9 crore and 131% increase in profit at Rs 225.2 crore.

As on 30th June 2011, the Group comprised of 111 Subsidiaries, 6 Joint Ventures and 13 Associates. A full summation of Gross Revenues and other income of all the group companies taken together for the quarter ended 30th June 2011 is Rs 15,844.21 crore (USD 3.5 billion).

Mr. Bharat Doshi, Executive Director and Group CFO said, "We are delighted to announce the consolidated financials of the Mahindra Group which in addition to the Auto and Farm businesses are a reflection of the robust growth of the various Group Companies in the IT, Finance, Real Estate, Hospitality and Systech sectors."

He added, "Mahindra Satyam's significant growth in margins and profit and SsangYong's improved sales volume is heartening to note; it is with great satisfaction that we see the integration of both these companies in the Group."

Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 30th June, 2011.

About the Mahindra Group

The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers.

A US $12.5 billion multinational group based in Mumbai, India, Mahindra employs more than 119,900 people in over 100 countries.

In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India's Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India - 2010, created by the Carbon Disclosure Project (CDP).

In 2011, Mahindra acquired a majority stake in Korea's SsangYong Motor Company.

For further information, please visit www.mahindra.com

Connect with us on www.facebook.com/mahindragroup

###

space

Other Related Press Releases