Mumbai: Mahindra on Wednesday reported a smaller-than-expected 34% increase in consolidated net profit at Rs 2,658 crore for the quarter ended Dec 2023 as weak demand for its profit-boosting tractors offset SUV sales.
While Mahindra’s tractors and farm equipment sales form only about a third of total revenue, they are far more profitable than its auto business, which comprise close to two-thirds of the topline and includes the sale of SUVs and commercial vehicles. agencies The company said its vehicle sales rose 20% in Q3 but tractor sales dropped 4%. agencies
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While Mahindra’s tractors and farm equipment sales form only about a third of total revenue, they are far more profitable than its auto business, which comprise close to two-thirds of the topline and includes the sale of SUVs and commercial vehicles. agencies The company said its vehicle sales rose 20% in Q3 but tractor sales dropped 4%. agencies
We also published the following articles recently
Mahindra Q3 profit up 34% at 2,658 crore
Mahindra reported a lower-than-expected net profit of Rs 2,658 crore in Q3 2023. Weak demand for tractors affected sales despite a 20% increase in vehicle sales.
Mahindra reported a lower-than-expected net profit of Rs 2,658 crore in Q3 2023. Weak demand for tractors affected sales despite a 20% increase in vehicle sales.
Bitter year for Heineken as inflation hits profits, beer sales
Heineken reported a drop in annual profits due to declining beer volumes. Net profit for 2023 was 2.3 billion euros. High inflation and uncertain economic climate impacted the decline. Operating profits are expected to be in the low-to-high single-digit range. Heineken shares on the Amsterdam stock market fell more than five percent.
Heineken reported a drop in annual profits due to declining beer volumes. Net profit for 2023 was 2.3 billion euros. High inflation and uncertain economic climate impacted the decline. Operating profits are expected to be in the low-to-high single-digit range. Heineken shares on the Amsterdam stock market fell more than five percent.