(not subjected to Limited Review by Auditors)
- Gross Revenue & Other Income grows by 23.7%
- Consolidated Group Profit grows by 55.0%
The Gross Revenue and Other Income for the quarter ended 30th June 2012 grew by 23.7% to Rs. 17,670.8 crore (USD 3.5 billion) from Rs. 14,281.1 crore (USD 2.8 billion) in Q1 previous year. The consolidated group profit for the quarter ended 30th June 2012 after deducting minority interests is Rs. 1,026.4 crore (USD 204.8 million) against Rs. 662.3 crore (USD 132.1 million) in Q1 previous year - a growth of 55.0%.
During the current quarter, some of the major group companies like Mahindra Finance, Mahindra Satyam and Mahindra LifeSpaces significantly improved their performance over Q1 previous year. Mahindra Finance grew its consolidated revenue by 52% and its profit by 64%, Mahindra Satyam's consolidated revenue grew by 31% with a 56% increase in its profits and Mahindra Lifespaces revenues grew of 28% with a profit growth of 72%.
As on 30th June 2012, the Group comprised of 115 Subsidiaries, 6 Joint Ventures and 11 Associates. A full summation of Gross Revenues and other income of all the group companies taken together for the three months ended 30th June 2012 is Rs. 20476.9 crore (USD 4.1 billion) and of Profits before Minority Interest Rs. 1405.3 crores (USD 280.4 million).
Note: Translation of rupee to dollar is a convenience translation at the average exchange rate for the twelve month period ended 30th June, 2012.
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 USD 15.4 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 enquiries
Senior VP & Group Head - Corporate Communication
Mahindra & Mahindra Ltd
Phone: +91 22 2490 1441