Mahindra and Mahindra Limited ? Group Consolidated Results Q3 F2012
(not subjected to Limited Review by Auditors).
The Gross Revenue and Other Income for the quarter ended 31st December 2011 grew by 61.3 % to Rs. 16,488.4 crore (USD 3.5 billion) from Rs.10,223.4 crore (USD 2.2 billion) in Q3 previous year. The consolidated group profit for the quarter ended 31st December 2011 after deducting minority interests is Rs. 831.8 crore (USD 178.0 million) against Rs. 834.0 crore (USD 178.4 million) in Q3 previous year.
The numbers for the current quarter as reported above are not strictly comparable with those of Q3 F2011 since the Q3 F2011 Revenue and PAT did not include those of Ssangyong Motor Company Limited and its subsidiaries. Also in Q3 last year there was an exceptional profit of Rs. 84.0 crore arising from the sale of the company's holdings in Owens Corning India Limited. On a comparable basis the growth in Group revenue in Q3 F2012 over Q3 F2011 is 27.6% and in Group PAT after deducting minority interests is 13.2 %.
Major companies contributing to the improved performance of the Group during the quarter are Mahindra Satyam, Mahindra Finance and Mahindra Forgings.
The Gross Revenue and Other Income for the nine months ended 31st December 2011 grew by 63.0 % to Rs. 45,994.8 crore (USD 9.8 billion) from Rs. 28,209.9 crore (USD 6.0 billion) in the same period previous year. The consolidated group profit for the nine months ended 31st December 2011 after deducting minority interests is Rs. 2176.1 crore (USD 465.6 million) as compared to Rs. 2142.9 crore (USD 458.5 million) earned in the previous year. On a comparable basis the growth in Group revenue in YTD F2012 over YTD F2011 is 29.6% and in Group PAT after deducting minority interests is 16.3%.
As on 31st December 2011, the Group comprised of 112 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 nine months ended 31st December 2011 is Rs. 53,627.3 crore (USD 11.5 billion).
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Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 31st December, 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 $14.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 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.
In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
For further information, please visit www.mahindra.com
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For further information, please contact:
Ms. Roma Balwani
Senior Vice President & Group Head, Corporate Communications
Mahindra & Mahindra Ltd
Phone: (+91-22) 2490 1441
Fax: (+91-22) 2490 0830
Email: balwani.roma@mahindra.com