Mahindra & Mahindra Records 20% Profit in 4th Quarter

Automaker Mahindra & Mahindra Ltd posted a nearly 20 percent rise in fourth-quarter profit after tax on Tuesday, beating analysts' estimate.

Profit after tax came in at 7.25 billion rupees ($112.17 million) for the quarter ended March 31, compared with 6.05 billion rupees a year earlier, the company said.

Analysts on average had expected a profit of 6.91 billion rupees, according to Thomson Reuters data. Total income rose 4 percent to 123.20 billion rupees.

Mahindra is the largest Utility Vehicle manufacturer in India with a diverse product range including cars like KUV100, Scorpio, XUV500 and many others. Apart from the Uvs, Mahindra also sells Electric cars like e2O Plus and e-Verito.