Mahindra & Mahindra Ltd has posted a net profit of Rs 307.86 million for the quarter ended December 31, 2002 as compared to Rs 243.20 million for the quarter ended December 31, 2001. Total income (net of excise) has increased from Rs 9239.80 million in DQ-01 to Rs 9984.15 million in DQ-02.

The company said outlook for the sales of automotive sector in Q4 of the current year is positive. However the recessionary conditions prevailing in Indian agriculture are expected to continue in Q4 as well. At the same time the tractor industry is going through a process of pipeline inventory correction. This is likely to affect tractor sales of both the industry as well as the company in Q4. The company will continue to focus on cost reductions and process improvements to mitigate the impact of such external environment.

BSE Code: 500520