Mahindra and Mahindra Q4 Profit Beats Analyst Estimates
The Indian automaker reported a standalone profit of 37.37 billion rupees for the March quarter. Strong demand for SUVs and tractors drove the results.
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MAHINDRA & MAHINDRA LTD reported a 53% surge in quarterly profit to 37.37 billion rupees ($391.89 million) on Tuesday morning. The result beat LSEG analyst estimates of 34.32 billion rupees for the quarter ended March 31. Strong demand for high-margin SUVs and tractors in India continues to drive the automaker's bottom-line growth.
Standalone profit after tax rose from 24.37 billion rupees a year earlier. The automaker cited steady demand for its Scorpio SUV model as a primary driver of the performance.
