Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M), utility vehicles maker, has no intentions in buying a stake in state-run Scooters India. Earlier, it was reported that M&M and three wheeler maker Atul Auto were looking to buy a controlling stake in the loss-making firm.

Recently, M&M launched its four-wheeler compact cab -- GIO -- in Hyderabad. The market potential for this competitively priced vehicle was estimated to be about 17,000 units per month and it is growing by about 20% per annum.

Mahindra & Mahindra’s net profit after tax for the fourth quarter rose by 6.36% at Rs 606.54 crore as compared to Rs 570.26 crore for the corresponding quarter last year. Its total income has jumped by 28.23% at Rs 6825.57 crore for the quarter under review from Rs 5322.75 crore in the corresponding previous quarter.