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Mahindra & Mahindra Q4 net declines 38.61 percent
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SME Times News Bureau | 30 May, 2015
Automotive company, Mahindra & Mahindra on Friday said its net standalone profit during the fourth quarter of 2014-15 declined by 38.61 percent at Rs.550.56 crore against profit of Rs.896.88 crore in the corresponding timeframe in 2013-14.
The company said the slowdown in the automotive and farm equipment segments resulted in the decline of its profitability.
It reported a decline of 13.16 percent in its net sales at Rs.9,411.52 crore as against Rs. 10,837.89 crore in the year-ago quarter.
In the period under review, the company, alongwith its wholly-owned arm Mahindra Vehicle Manufacturers Ltd (MVML), sold 57,027 utility vehicles, while tractor sales stood at 34,682 units.
For the year ended March 31, 2015, the company reported a decline of 32.77 percent in its net consolidated profit which stood at Rs.3,137.47 crore against Rs.4,666.93 crore in the previous fiscal.
On a consolidated basis, net sales during 2014-15 stood at Rs.70,797.87 crore compared to Rs. 72,758.77 crore in 2013-14.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
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84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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