Indian utility major Mahindra & Mahindra (M&M) has reported a 7.56 percent jump in standalone net profit for the quarter ended June 30 to Rs 604.88 crore on the back of good sales and expenditure control measures, according to reports.
It was also reported that the company had posted a net profit of Rs 562.39 crore for the corresponding period last year. The standalone total income was reportedly increased by 30.49 percent during the first quarter of the fiscal to Rs 6,733.54 crore from Rs 5,160.10 crore in the year-ago period. M&M stated that the growth in the profit of the company despite the relentless increase in material costs is due to good volume performance by both vehicles and tractors and tight control on expenses. Vcommindia News
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