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Mahindra & Mahindra fourth-quarter profit rises about 20 percent, beats estimates
May 30, 2017 / 9:21 AM / in 6 months

Mahindra & Mahindra fourth-quarter profit rises about 20 percent, beats estimates

REUTERS - Automaker Mahindra & Mahindra Ltd (MAHM.NS) posted a nearly 20 percent rise in fourth-quarter profit after tax on Tuesday, beating analysts’ estimate.

The logo of Mahindra and Mahindra is seen at a showroom in Mumbai, India, August 30, 2016. Picture taken August 30, 2016. REUTERS/Danish Siddiqui/File Photo

Profit after tax came in at 7.25 billion rupees ($112.17 million) for the quarter ended March 31, compared with 6.05 billion rupees a year earlier, the company said. bit.ly/2rQm3is

Analysts on average had expected a profit of 6.91 billion rupees, according to Thomson Reuters data.

Total income rose 4 percent to 123.20 billion rupees.

($1 = 64.6350 Indian rupees)

Reporting by Samantha Kareen Nair in Bengaluru; Editing by Subhranshu Sahu

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