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Stock Report
Mahindra & Mahindra Q1 net profit down at Rs.191.17 Crores, announce positive outlook
Posted On : 2007-07-30 01:01:24( TIMEZONE : IST )
Mahindra & Mahindra Ltd has announced the following Unaudited results for the quarter ended June 30, 2007.
The Company has posted a profit after tax of Rs 1911.702 million for the quarter ended June 30, 2007 as compared to Rs 2041.774 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 22816.916 million for the quarter ended June 30, 2006 to Rs 26443.874 million for the quarter ended June 30, 2007.
The company has reported an Earnings Per Share (EPS) of Rs.6.03 for the Quarter ending June 30, 2007 compared to Rs.8.67 for Quarter ending June 30, 2006.
The stock was trading at Rs.755.30, down by Rs.20.55 or 2.65%. The stock hit an intraday high of Rs.778 and low of Rs.755.30. The total traded quantity was 72954 compared to 2 week average of 113985.
The economy, after an excellent performance in the last four years, is poised to grow strongly in F 2008 as well. This however will depend on the monsoon being good as predicted. High interest rates, strengthening rupee and slowing credit growth are worrisome factors. However the Company’s outlook for the rest of the year remains positive.
