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40 p.c. jump in M&M's net

Staff Correspondent

MUMBAI: A good show from the automotive and farm equipment sectors, containment of operating expenditure and a reduction in financial costs saw Mahindra & Mahindra (M&M) report a 40 per cent higher net profit at Rs. 145.30 crore for the first quarter of 2005-06 against Rs. 103.90 crore in the same period last year.

Gross sales and income from operations were Rs. 2,049.20 crore (Rs. 1,686 crore) and net sales and income from operations was Rs. 1,811.90 crore (Rs. 1,423.20 crore). The profit before exceptional items and tax was Rs. 172 crore (Rs. 124.70 crore) an increase of 38 per cent.

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