M&M consolidated PAT falls 52.56% in June quarter to Rs 894 over weak sales

Mahindra & Mahindra on Wednesday reported a 52.56 per cent decline in consolidated profit after tax to Rs 894.11 crore in the first quarter ended June 30, hit by lower vehicle sales.

The company had posted a consolidated profit after tax of Rs 1,884.66 crore in the same quarter of the previous financial year, Mahindra & Mahindra said in a regulatory filing.

Its total income during the period stood at Rs 26,289.48 crore as compared with Rs 26,260.64 crore in the corresponding quarter a year ago. In the first quarter, M&M said its total vehicle sales stood at 1,23,690 units as against 1,30,484 units in the year-ago period, down 5 per cent.