Third quarter brought 49% of growth in Mahindra

Various reports of various big, small companies are flying all across the internet. All of them are claiming something or the other, with the end of the third quarter of this fiscal year. But the one which we noticed and felt interesting is that with the end of third quarter, our very own automobile giant Mahindra and Mahindra has recorded a growth of 49.2 percent increase in its net profit. This 49.2 percent accounts to a humongous sum of Rs 734.68 crores. The company believes that this has been possible because of the sheer dedication of each and every employee of the company.

As far as the company’s gross revenue and other incomes are concerned, it received Rs 6684 crores in this quarter against Rs 4920 crores during the same quarter last year, making a 35.8 percent increase in the same. According to a spokesperson of the company, “this particular quarter was a real tough quarter as the cost of material increased relentlessly, but still we managed to deal with and earn such high profits is because of the good performance overall by all our vehicles. Also, that a tight grip over our expenses and our prudent finance management resulted in lower interest rates.”

We all know how tough it was for the company to pull it out from such sad phase. Undoubtedly, the news of dissolution of the joint venture between Mahindra and Renault really had some drastic effect on both the companies but it seems that Mahindra has really learnt a new lesson from it and moved on. At least the figures say so. Now the company seems to be more vigilant about its business practises. According to the company, it will maximise its efforts to bring the same and newer products at same prices and will fight the cost pressure going to be imposed on the automobile industry very soon. It seems that the company has really geared up for the future and are hopeful that this New Year would bring fruitful results to them.

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