The country's fourth-largest auto maker and farm vehicles leader Mahindra and Mahindra (M&M) on Wednesday reported a 6 per cent year-on-year (Y-oY) drop in net profit for the first quarter of the 2024-25 (Q1FY25). Profit after tax (PAT) for Q1FY25 came in at ₹3,208 crore.
M&M said the reported PAT drop was on account of two one-off gains last year amounting to ₹763 crore. Out of this, ₹405 crore gain was from its KG Mobility investment at the time of listing of the stock, and also a ₹358 crore gain on sale of its stake in Mahindra CIE (MCIE).
This story is from the August 01, 2024 edition of Business Standard.
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This story is from the August 01, 2024 edition of Business Standard.
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