Chennai. The country’s leading automobile manufacturer Mahindra & Mahindra has earned a net profit of Rs 2,773.73 crore in the first quarter of the financial year 2023-24.
The company announced financial results on Friday. It also announced the merger of its three wholly owned subsidiaries.
The company told the stock exchanges that its total income for the quarter ended June 30 was Rs 25,025.95 crore, which was Rs 19,952.88 crore in the same quarter of the last financial year. During this period, its net profit also increased from Rs 1,403.61 crore to Rs 2,773.73 crore.
The Board of Directors of Mahindra & Mahindra Limited also approved the plan of merger of its three wholly owned subsidiaries Mahindra Heavy Engines Limited, Mahindra Two Wheelers Limited and Tringo.com Limited.
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Web Title-Mahindra & Mahindra net profit of Rs 2,773.73 crore in the first quarter