Mumbai - Home-grown auto major Mahindra & Mahindra on Friday reported a consolidated net profit of Rs 930.32 crore for the third quarter ended December 31, 2014.
M&M had posted a consolidated net profit of Rs 1,230 crore in the same period last fiscal.
Its revenue stood at 18,371.91 crore in the latest quarter, as against 20,679.92 crore in the same period last fiscal, the company said in a regulatory filing.
The company said the figures are not comparable from the year-ago levels due to the merger of its associate companies.
New Delhi: Homegrown auto major Mahindra & Mahindra on Tuesday said its two-wheeler arm has made an offer to acquire 51 percent stake in Peugeot Motocycles, part of the 54 billion euro PSA Group based in France.
In a statement, M&M said under the "binding offer" made by Mahindra Two Wheelers Ltd (MTWL), there would be an "infusion of 15 million euro into Peugeot Motocycles (PMTC) to finance projects implemented through strategic partnership, and further sale of shares by PSA, which would allow MTWL to take 51 percent stake in PMTC."
Mumbai : Auto major Mahindra & Mahindra, will invest Rs 4,000 crore over a 7-year period to expand its existing facility at Chakan in Maharashtra.
The company, which had earlier put on hold the expansion at the plant and considered other options citing lack of support from the Maharashtra government, said the fresh infusion would take its total investment in Chakan to Rs 8,000 crore.
"A total of Rs 4,000 crore will be utilised towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the Chakan plant," Mahindra & Mahindra said in a statement.
New Delhi: Mahindra Reva Electric Vehicles, a part of the Mahindra Group, on Thursday launched a premium variant of its electric small car e2o priced at Rs 5.72 lakh (on road Delhi) with a monthly energy fee of Rs 2,999 for five years.
The premium e2o has an extended range of 120 km and electric power steering.
"Convenience of city driving has always been a priority for Mahindra Reva. The e2o is automatic with the smallest turning radius, along with features like the hill-hold, which prevent it from rolling back while on an incline," Mahindra Reva Electric Vehicles CEO Chetan Maini said in a statement.
Mumbai: Homegrown auto major Mahindra & Mahindra on Friday reported a 5.98 percent decline in its standalone net profit at Rs 881.78 crore for the first quarter ended June 30, 2014.
The auto major had posted a net profit of Rs 937.91 crore during the same period a year ago.
Net sales on a standalone basis during the April-June quarter declined marginally to Rs 10,597.07 crore from Rs 10,607.27 crore, Mahindra & Mahindra said in a filing to the BSE.
New Delhi - The RBI's monetary policy review on Tuesday and a bunch of earnings from blue-chips including SBI, Mahindra & Mahindra and Hero MotoCorp, will dictate the near-term trend on bourses, market experts said.
Besides, trend in investment by overseas investors, global cues, movement of rupee against the dollar, oil prices and progress of monsoon will also hold key for the markets.
New Delhi: Mahindra Two Wheelers plans introduce up to four new products, including a scooter, a bike in entry level segment and variants of existing products, this year as it looks to scale up presence in the market.
The company is also aiming to treble its exports in the next six months with plans to enter four new international markets by this year.
"We have been on a stabilisation mode putting our infrastructure in place in the last one year. With a series of launches in both domestic and international markets, we are now looking at rapid growth," Mahindra Two Wheelers Chief of Operations Viren Popli told PTI.
New Delhi: Mahindra & Mahindra (M&M) on Thursday launched a special edition of its sports utility vehicle XUV500, priced at Rs 13.68 lakh (ex-showroom Mumbai).
The special edition--XUV500 Sportz, which has been built upon the top end model of XUV500, comes with various external and internal features including rear-view camera and leather-fabric seats.
"This new offering of 'XUV500 Sportz' aligns with our leadership position in Indian motor sports and rallying and reflects our sporty DNA very well," M&M Chief Marketing Officer, Automotive Division, Vivek Nayer said in a statement.
New Delhi, March 1 : Automobile manufacturer Mahindra and Mahindra Saturday reported a decline of 12 percent in its overall sales, including exports, in February, which stood at 42,166 units from at 47,824 units in the corresponding month of last year.
Domestic sales stood at 39,338 units during last month, as against 44,399 units during February 2013, a decline of 11 percent.
The company's exports during the month under review fell by 17 percent at 2,828 units from 3,425 units being shipped-off in the corresponding period 2013.
New Delhi, Feb 27 : Industrial conglomerate Mahindra and Mahindra Thursday rolled out its electric vehicle e2o in Bhutan.
The launch followed a Memorandum of Understanding (MoU) that it entered with government of Bhutan.
"With the Mahindra e2o we are taking the lead in not only creating a comprehensive ecosystem to nurture sustainable mobility solutions, but also partnering Bhutan to redefine the future of urban mobility," said Pawan Goenka, executive director and president, automotive and farm equipment sectors, Mahindra and Mahindra.(IANS)
Mahindra & Mahindra (M&M), the biggest utility vehicle manufacturer of India, on Friday reported a 12 per cent year-on-year rise in standalone net profit for the quarter ended December 31, 2013.
Net profit at its wholly-owned subsidiary Mahindra Vehicle Manufacturers Ltd (MVML) grew 9.3 per cent to Rs 1,000 crore in the October-December quarter of current financial year.
Mahindra Two Wheelers Ltd, a subsidiary of the Mahindra Group, on Friday expanded its promising Centuro portfolio with the launch of the new Centuro N1 motorcycle.
Priced at Rs 45,700 (ex-showroom, Delhi), the Centuro N1 comes with an anti-theft alarm and engine immobiliser and offers an impressive mileage of 85.4 kilometers per liter (km/l).
Utility vehicle giant Mahindra & Mahindra (M&M) on Wednesday reported a nearly10 per cent year-on-year growth in standalone net profit for the three-month period ended September 30, 2013, thanks to strong growth in the agriculture equipment segment.
The tractor-maker announced in a statement that its standalone net profit jumped 9.7 per cent year-on-year to Rs 989.5 crore in the July-September quarter. The growth was largely driven by the robust sales of tractors and other agriculture equipment on the back of good monsoon.
Mahindra & Mahindra Ltd (M&M), India's leading sport utility vehicle (SUV) maker, suffered a year-on-year decline of around 7 per cent in its total domestic sales in October.
M&M announced on Friday that its domestic sales, including sales of commercial vehicles, slipped 6.8 per cent, from 51,316 units in October 2012 to 47,787 units in October this year. Sales of passenger vehicles slipped 14 per cent to 22,924 units, from 26,932 units in October last year.
Mumbai, Sep 27 : Automobile manufacturer Mahindra & Mahindra Friday said it will increase the prices of its vehicles by up to two percent from next month.
According to the company, the price increase will be effective from Oct 1, 2013 and would be in the range of Rs. 6,000 to Rs. 20,000.
"We have been holding back prices for a while but now it has become necessary to raise them due to increasing input costs, devaluation of the rupee and increase in some raw material costs," said Pravin Shah, chief executive, automotive division, Mahindra & Mahindra.(IANS)
Auto giant Mahindra & Mahindra (M&M) on Wednesday announced its decision to invest Rs 10,000 crore in a period of next three years towards capacity expansion (capex) and launching of new products.
Of the total amount of Rs 10,000 crore, M&M will spend Rs 7,500 crore towards capex on automotive & farm equipment and the rest on group companies.
Mahindra Two Wheelers, the two-wheeler arm of Indian automobile giant Mahindra Group, on Monday announced its decision to build up its production capacity to meet growing demand.
The company claimed that it received more than 30,000 bookings for its Centuro motorcycle in just 6 weeks of its launch.
Anoop Mathur, president of two-wheeler arm at Mahindra & Mahindra Ltd, said that the good response the company received for the Centuro proved its strong value proposition as well as appeal amongst consumers.
Kathmandu, Aug 15 : Mahindra Reva Electric Vehicles (MREV) has launched Mahindra e20, a zero-emission electric car, in Nepal.
The car, introduced as an urban mobility solution, is a fully-automatic car that comes with boost-mode system for rapid acceleration, said the company.
The company said electric vehicles could be a solution for a sustainable 'zero-emission society'. It may also reduce environmental degradation, pollution-related health concerns, climate change, energy security and rising oil prices.
New Delhi, Aug 13 : Mahindra and Mahindra (M&M) Tuesday reported a 29.3 percent growth in its standalone net profit for the first quarter of the current fiscal at Rs. 937.9 crore from Rs. 725.6 crore in the like period of the 2012-13 financial year.
The gross revenue and other income of the company grew 7.6 percent and stood at Rs. 10,887.8 crore in the quarter under review from Rs. 10,115.8 crore in the corresponding period of last fiscal.
India's struggling car industry showed signs of recovery in July, with several major car makers reporting in sales.
Maruti Suzuki, the country's leading car manufacturer, enjoyed increases in sales of mini segment cars like Alto, M800, WagonR. The company's mini segment car sales increased 15.8 per cent year-on-year to 33,587 units. Sales of Dzire jumped 33.6 per cent to 15,249 units. Total domestic sales increased 5.8 per cent, from 71,024 units in July 2012 to 75,145 units in July 2013.