Mahindra reports net loss of Rs 3,255 crore in Q4
New Delhi: Mahindra & Mahindra (M&M) on Friday reported a consolidated internet lack of Rs 3,255.02 crore for the quarter ended on March 31, 2020.
The firm together with Mahindra Vehicle Manufacturers Ltd (MVML) had posted a internet revenue of Rs 969.25 crore for the January-March interval of 2018-19.
Revenue from operations declined to Rs 9,004.72 crore throughout the fourth quarter in contrast with Rs 13,807.88 crore in the identical interval of corresponding fiscal, M&M mentioned in a regulatory submitting.
The firm mentioned it bought 86,351 autos within the fourth quarter, down 47 per cent from 1,63,937 items gross sales within the fourth quarter of 2018-19.
For 2019-20 fiscal, the corporate reported a internet revenue of Rs 739.71 crore in opposition to Rs 5,401.18 crore in 2018-19.
Net income from operations for the fiscal stood at Rs 44,865.52 crore as in opposition to Rs 52,848.21 crore in 2018-19.
On a standalone foundation, the auto main reported a internet lack of Rs 2,502 crore for the fourth quarter as in contrast with a internet revenue of Rs 849 crore within the January-March interval of 2018-19.
The standalone internet revenue for 2019-20 fiscal stood at Rs 1,331 crore as in opposition to Rs 4,796 crore in 2018-19.
“The results were affected due to the lower industry volumes in both automotive and tractor segments, transition to BS VI and the abrupt lockdown due to the COVID situation,” M&M mentioned.
On the outlook, the corporate mentioned that with easing of restrictions there will probably be a ramp up in manufacturing, provide chain and distribution from June onwards, which can help financial exercise.
While the general providers and manufacturing sectors are more likely to see a slower restoration, the agriculture/farm tools sector will probably be comparatively much less impacted, aided by a number of positive elements corresponding to report Rabi manufacturing, larger authorities procurement, well timed announcement of upper MSPs and outlook of a standard monsoon, it added.
“One can expect a quicker recovery in rural India, as is evident from tractor sales of the company in the month of May. The urban segment may take longer to come back to normalcy,” M&M mentioned.
Having mentioned that, whereas the outlook is closely contingent upon the depth, length and unfold of the pandemic, a clean normalisation and efficacy of coverage measures would be the key to any restoration within the present fiscal, it added.
The firm’s board, which met on Friday, really helpful a dividend of Rs 2.35 (47 per cent) per share of face worth Rs 5 every for 2019-20 fiscal.
$(function() { return $("[data-sticky_column]").stick_in_parent({ parent: "[data-sticky_parent]" }); });
reset_scroll = function() { var scroller; scroller = $("body,html"); scroller.stop(true); if ($(window).scrollTop() !== 0) { scroller.animate({ scrollTop: 0 }, "fast"); } return scroller; };
window.scroll_it = function() { var max; max = $(document).height() - $(window).height(); return reset_scroll().animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
window.scroll_it_wobble = function() { var max, third; max = $(document).height() - $(window).height(); third = Math.floor(max / 3); return reset_scroll().animate({ scrollTop: third * 2 }, max * 3).delay(100).animate({ scrollTop: third }, max * 3).delay(100).animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
$(window).on("resize", (function(_this) { return function(e) { return $(document.body).trigger("sticky_kit:recalc"); }; })(this));
}).call(this);
} on_load_google_ad(); function sendAdserverRequest() { try { if (pbjs && pbjs.adserverRequestSent) return; googletag.cmd.push(function() { googletag.pubads().refresh(); }); } catch (e) {
googletag.cmd.push(function() { googletag.pubads().refresh(); }); } } setTimeout(function() { sendAdserverRequest(); }, 5000);
function on_load_fb_twitter_widgets(){ (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));
window.twttr = (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], t = window.twttr || {}; if (d.getElementById(id)) return t; js = d.createElement(s); js.id = id; js.src = "https://platform.twitter.com/widgets.js"; fjs.parentNode.insertBefore(js, fjs); t._e = []; t.ready = function(f) {
t._e.push(f); }; return t; }(document, "script", "twitter-wjs")); }
//setTimeout(function() { on_load_google_ad(); }, 5000); setTimeout(function() { on_load_fb_twitter_widgets(); }, 5000);
Source