Mahindra and Mahindra Ltd (M&M), India’s largest tractor manufacturer, reported a 94 per cent decline in its consolidated profit at Rs 54.64 crores for June quarter 2020, adversely impacted by the coronavirus pandemic. The company had posted a profit after tax of Rs 894.11 crore in the same period last fiscal, Mahindra and Mahindra said in a regulatory filing.

Revenue from operations during the June quarter stood at Rs 16,321.34 crore as against Rs 26,041.02 crore in the year-ago period, down 37 per cent, the company added.

The automotive segment posted a revenue of Rs 6,508.6 crore in the first quarter, down from Rs 13,547.84 crore in the same period a year ago, the company said.

The number of vehicles sold crashed by 78 per cent to 27,565 units in Q1 FY21. Tractor sales came down by 22 per cent to 64,140 units from 82,013 units while exports fell by 72 per cent to 3,109 units (vehicles and tractors combined) as compared to 10,923 units in Q1 FY20, media reported.