Mahindra has announced that its net profit in the fourth quarter is increased by 6 percent with the robust sales in the demanding utility vehicle segment. In the duration of January 2016 to March 2016, the company has reported the net profit at Rs. 583.73 crores. Mahindra has an increment in the net profit compared to the same period of the previous fiscal (January to March of FY 2014-15), which listed Rs. 550.56 crore of net profit.
Mahindra’s total income is Rs. 10912.45 crore in the last quarter ended on March 31st, 2016 and increased by 14.58 percent compared to the year-ago period total income was Rs. 9524.04 crore. The Utility Vehicle major sold 69,082 units of utility vehicles in the fourth quarter and the tractor sales were at 41,129 units.
In the financial year of 2014-15, the company’s net profit increased by 2.35 percent at Rs. 3,211.26 crores compared to the last fiscal net profit Rs. 3,137.47 crore. Mahindra reported the total net sales of Rs. 69,785.97 crore, representing an increment of 10.14 percent from Rs. 63,361.96 crore net sales in the 2014-15 fiscal year.
It was a respectable moment for Mahindra and the company said that this growth will continue in the Indian market in the further years by introducing the new concept based and design based models and new techniques to promote its products. Very recently, the company has launched the Smart Shift, which is a digital marketplace for the intra-city logistics, to easily broadcast its products.
Mahindra to offer petrol versions:
In today’s market, the sales of diesel vehicles reduced in the last two to three months compared to the previous period owing to the different acts of the state governments. The Supreme Court banned registration of big-sized diesel engine vehicles and entry of the heavy trucks on the roads in Delhi. A few of states interested in following these kinds of rules in the bigger cities to control the vehicle pollution. Just a few days back, NGT has banned the 10-year older diesel vehicles in Kerala.
By observing all situations in the market, Mahindra has decided to offer the petrol versions of the bigger volume products. Pawan Goenka said that Mahindra is a good diesel player but, we had a feeling that it is not enough so that the company will launch the petrol versions. The popular products, XUV 500 and Scorpio, will be launched in this year and the upcoming products will be available in two fuel engine options.
The Mahindra KUV 100 is offered in petrol versions with the fuel-efficient mFalcon engine and now, Mahindra is planning to spend Rs. 10,000 crore total capital expenditure for the new product development and other purposes over the next three years, according to him.