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M&M Q4 results: Impairment charge shrinks net profit to Rs 162 crore

Read more about M&M Q4 results: Impairment charge shrinks net profit to Rs 162 crore on Business Standard. Revenues beat estimates, company chalks out a Rs 17K crore plan to aid growth ....

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In major EV push, Mahindra & Mahindra to set up two new verticals

In major EV push, Mahindra & Mahindra to set up two new verticals
March 10, 2021
New structure to focus on last-mile mobility, electric tech centre
Mahindra & Mahindra is creating a new structure for its electric vehicle business by setting up two different verticals, one for last-mile mobility, and the other being an EV tech centre, the company said on Wednesday.
This is in the backdrop of auto majors across the globe announcing how electrification will be the cornerstone of their future strategies.
“The Mahindra Group is readying itself for a world where EVs will evolve through different adoption curves with different trajectories across segments. In a communication to employees, Rajesh Jejurikar, Executive Director of M&M, announced setting up of two verticals,” the company said in a statement. ....

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M&M Q3 results: Net profit rises 40% to Rs 531 cr, below Street estimates; revenue grows 16%

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M&M Q3 results: Net profit rises 40% to Rs 531 cr, below Street estimates; revenue grows 16%
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M&M Q3 results: Net profit rises 40% to Rs 531 cr, below Street estimates; revenue grows 16%ETMarkets.com
Last Updated: Feb 05, 2021, 01:45 PM IST
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Synopsis
The company and its arm Mahindra Vehicle Manufacturing’s revenues in the quarter grew 16 per cent on year to Rs 14,057 crore.
Analysts had expected the company and its arm to report a combined net profit of Rs 1,461 crore on revenues of Rs. 13,972 crore.
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MUMBAI: Mahindra & Mahindra and its arm Mahindra Vehicle Manufacturing reported a 40 per cent year-on-year rise in net profit to Rs 531 crore in the quarter ended December. However, the bottomline was dented by a one-time loss on impairment of assets of subsidiaries. ....

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