India's Mahindra and Mahindra reports 57% jump in Q3 net profit

10/02/2022 1:09:33 PM | Source: Reuters

India's Mahindra and Mahindra reports 57% jump in Q3 net profit

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BENGALURU - India's Mahindra and Mahindra Ltd reported a 57% surge in third-quarter profit on Thursday, boosted by higher demand for the automaker's commercial vehicles and farm equipment that offset an increase in costs due to supply chain disruptions.

Consolidated net profit from continuing operations was 19.87 billion rupees ($265.11 million) for the quarter ended Dec. 31, up from 12.68 billion rupees a year ago, Mahindra said.

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India's Mahindra and Mahindra reports 57% jump in Q3 net profit

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