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MOTORINDIA
l
July 2012
49
The gross revenues and other income of
Mahindra & Mahindra Ltd. and Mahindra
Vehicle Manufacturers Ltd. (MVML) dur-
ing the quarter ended March 31, 2012, is Rs.
10,333.6 crores as against Rs. 7,542.5 crores
in the same quarter of the previous year, a
growth of 37 per cent. Net profit before tax
for the quarter is Rs. 976.2 crores (Rs. 858.3
crores). After providing for tax the same is
Rs. 911.3 crores (Rs. 672.4 crores), repre-
senting a growth of 35.5 per cent.
The gross revenues and other income of
Mahindra & Mahindra Ltd. and MVML
during the year ended March 31, 2012, is
Rs. 35,005.2 crores (Rs. 26,201.1 crores),
a growth of 33.6 per cent. Net profit be-
fore tax is Rs. 3,785.8 crores (Rs. 3,544.5
crores). After providing for tax the same is
Rs. 2,997 crores (Rs. 2,687 crores), repre-
senting a growth of 11.5 per cent. The oper-
ating margin for the combined entity in the
current year is 13.3 per cent.
The growth in profits of the company,
despite the relentless increase in material
costs, is due to a good volume performance
by both vehicles and tractors and tight control
on expenses. Also, the scheme of arrange-
ment for merger of the automotive business
of M&M’s subsidiary, Mahindra Automo-
tive Distributors Ltd. (MADPL), with M&M
was approved by the High Court of Bombay
vide its order dated March 30, 2012, and as
required by the order, it has been given effect
to with effect from April 1, 2011. In view of
this, the Verito business of MADPL became
a part of the current year financials of the
company. Also, due to the merger, the past
unabsorbed tax losses related to automotive
business of MADPL became available to the
company, and there was a one-time tax sav-
ing during the current year.
Standalone results
The gross revenues and other income of
Mahindra & Mahindra Ltd. during the year
ended March 31, 2012 is Rs. 34,820.3 crores
(Rs. 25,989.2 crores), a growth of 34 per
cent. Net profit after tax is Rs. 2,878.9 crores
(Rs. 2,662.1 crores), a growth of 8.1 per cent.
In the passenger utility vehicle segment,
the company sold a total of 2,02,217 vehi-
Mr. Anand Mahindra, Vice Chairman & Managing Director, Mahindra & Mahindra
vehicle zone