Business

Mahindra & Mahindra Q1 revenue falls 94% at Rs 55 crore

Summary

(File photograph) NEW DELHI: Homegrown diversified group Mahindra & Mahindra on Friday reported 94 per cent decline in consolidated revenue at Rs 54.64 crore for June quarter 2020, adversely impacted by the Covid-19 pandemic. The corporate had posted a revenue […]

(File photograph)

NEW DELHI: Homegrown diversified group Mahindra & Mahindra on Friday reported 94 per cent decline in consolidated revenue at Rs 54.64 crore for June quarter 2020, adversely impacted by the Covid-19 pandemic.
The corporate had posted a revenue after tax of Rs 894.11 crore in the identical interval final fiscal, M&M mentioned in a regulatory submitting.
Income from operations in the course of the quarter below evaluate stood at Rs 16,321.34 crore as towards Rs 26,041.02 crore within the year-ago interval, down 37 per cent, it added.
The automotive section posted a income of Rs 6,508.6 crore within the first quarter, down from Rs 13,547.84 crore in the identical interval a 12 months in the past, the corporate mentioned.
Farm tools section’s income was Rs 4,906.92 crore as towards Rs 6,077.9 crore in the identical quarter final fiscal.
Income from monetary providers stood at Rs 3,031.69 crore as in comparison with Rs 2,822.03 crore in first quarter final 12 months.
Hospitality section recorded a income of Rs 294.26 crore as in comparison with Rs 612.49 crore in the identical interval a 12 months in the past, the corporate added.
The Group’s operations and monetary outcomes for the quarter have been adversely impacted as a result of Covid-19 pandemic and the ensuing lockdown, on account of which operations have been suspended for a part of the quarter and steadily resumed with requisite precautions, M&M mentioned.
It mentioned its standalone revenue after tax for the primary quarter was at Rs 112.1 crore as towards Rs 2,313.82 crore.
Standalone income from operations for the quarter was at Rs 5,602.18 crore as in comparison with Rs 12,922.72 crore within the year-ago interval.

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