The profit figure was buoyed by robust sales volumes, helped by improved semiconductor supplies and a high gain in other income.
Total revenue from operations at the standalone level jumped 22% year-on-year (y-o-y) to ₹24,056 crore driving up the profit before tax margin to a multi-quarter high.
Revenues were also higher than Bloomberg's estimate of ₹23,644 crore. The automaker's net profit too was higher than Bloomberg's estimate of ₹1,950 crore.
The other income reported during the June quarter included a mark to market gain of ₹405 crore which was on account of the relisting of KG Mobility (erstwhile SsangYong Motor Company). M&M's stock on the BSE ended 0.22% down at ₹1,465.05 compared to its Thursday's close.
Diese Geschichte stammt aus der August 05, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der August 05, 2023-Ausgabe von Financial Express Mumbai.
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