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M&M Q3 profit rises 26% on robust sales

8 February 2013

sns & pti
NEW DELHI/KOLKATA, 8 FEB: Auto major Mahindra & Mahindra today reported a 26.28 per cent increase in standalone profit at Rs 836.19 crore for the quarter ended 31 December 2012, mainly on account of good vehicle sales.
The company had posted a net profit of Rs 662.15 crore in the corresponding period of the previous year.
The standalone net income during the period under review went up by 28.53 per cent to Rs 10,774.28 crore from Rs 8,382.91 crore, Mahindra & Mahindra (M&M) said in a statement.
“The growth in profits of the company despite relentless increase in material costs is due to a good volume performance by automotive sector and tight control on expenses,” the Mumbai-based company said.
During the quarter, the company sold 70,483 units in the passenger utility vehicle segment, registering a growth of 36 per cent over the numbers sold in the corresponding period last fiscal, it added.
“All the products of the entity's UV portfolio continued to do well,” M&M said.
In the passenger car segment, the company sold 3,814 units of Verito. It also exported 6,500 units.
Birla Corporation
Birla Corporation today reported a decline of 26.3 per cent in net profit at Rs 32.21 crore in the third quarter ended December 2012.
The company had posted a net profit of Rs 43.72 crore in the year-ago period.
Net sales of the company increased 14.2 per cent at Rs 621 crore as compared to Rs 543.5 crore in the previous corresponding period, it said in a statement. Profitability had been affected due to suspension of captive mining operations at the Chanderia plant, it added. Mr Harsh V Lodha, chairman of Birla Corporation, commenting on the results of the company in the third quarter of 2012-13, after its board meeting in Kolkata today, said the performance has been satisfactory considering the fact that both the volume of production as well as profitability continued to be affected because of suspension of captive mining operations at the Chanderia Plant of the Company.
Emami
FMCG firm Emami Ltd today reported 21.60 per cent increase in consolidated net profit at Rs 114.93 crore for the third quarter ended 31 December 2012, on strong sales in the domestic market.
The Kolkata-based firm had posted a net profit of Rs 94.51 crore in the corresponding period of the previous fiscal.
Net sales of the company rose to Rs 548.65 crore for the third quarter, as against Rs 452.36 crore in the corresponding period of 2011-12 fiscal, Emami said in a statement.
“Consumer sentiment in both the rural and the urban sector continued to be positive. With winter setting in early this year, consumer demand has been strong during this quarter which helped in maintaining a robust top-line growth,” Emami CEO-finance, strategy and business development Naresh H Bhansali said.
Tata Chemicals
Tata Chemicals today reported a marginal rise in consolidated net profit at Rs 224.07 crore for the quarter ended 31 December.
The company's net profit was Rs 223.78 crore in the year-ago period.
The consolidated total income rose by 13 per cent to Rs 4,343.45 crore in the October-December quarter of 2012-13, from Rs 3,853.62 crore in the third quarter of last fiscal.
On a standalone basis, Tata Chemicals posted Q3 net profit of Rs 242.21 crore, as compared to Rs 153.04 crore in the year-ago period.
Total income increased to Rs 2,700.40 crore in the third quarter of the current fiscal, from Rs 2,390.69 crore in the same quarter of previous fiscal.
Sun Pharma
Sun Pharma today reported a 31.87 per cent rise in its consolidated net profit at Rs 881.30 crore for the third quarter ended 31 December 2012, primarily on the back of strong sales in the US market.
The company had posted a net profit of Rs 668.30 crore in the corresponding period previous fiscal, Sun Pharmaceutical Industries said in a statement.
Consolidated net sales of the company increased by 32.95 per cent to Rs 2,852.01 crore for the third quarter ended 31 December, compared to Rs 2,145.13 crore for the corresponding period of previous fiscal.