Q4 earnings: Mahindra & Mahindra net profit declines 16% to ₹969 cr | Editorji
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Q4 earnings: Mahindra & Mahindra net profit declines 16% to ₹969 cr

May 29, 2019 19:01 IST

On the back of lackluster sales in tractor and auto businesses Mahindra & Mahindra net profit in the fourth quarter ending on March 31, declined 16% to ₹969 crore. However, the numbers beat analysts' expectations on revenue that grew 4.7% year on year while EBITDA dropped 6.7% along with margin that fell 160 basis points to 13.5%. The automaker in a press release attributed muted demand in rural India, stress in the NBFC sector and slowing economy for the slump in sales.