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Mahindra Ltd Quarter 4 Net Increase 89%
Posted on: 29-05-2009 , 04:: | DY365 Bureau

on Thursday beat expectations with near-doubling in quarterly net profit.

Mahindra, which aims to enter the US market with a pick-up truck and sport utility vehicle early next year, said net profit rose to 4.18 billion rupees (USD 87.6 million) in the fiscal fourth quarter ended March from 2.21 billion rupees a year ago.

That compared with a forecast of 1.97 billion rupees in a Reuters poll.

Net sales rose to 36.19 billion rupees from 31.48 billion rupees, and were also above a forecast of 34.01 billion rupees,

Shares in Mahindra, valued at USD 3.6 billion, had risen 39.4 percent in the March quarter while the main index rose 0.6 percent.

 
 

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