M&M Q2 net profit rises 23.87% to Rs 1,649.46 cr; total income up 8.5% to Rs 13,835 cr

M&M's vehicle sales during the second quarter stood at 1,41,163 units as against 129,754 units in the same period last fiscal, a growth of 9 percent

Press Trust of India November 14, 2018 14:58:32 IST
M&M Q2 net profit rises 23.87% to Rs 1,649.46 cr; total income up 8.5% to Rs 13,835 cr

New Delhi: Homegrown auto major Mahindra & Mahindra on Wednesday reported 23.87 percent jump in standalone profit after tax at Rs 1,649.46 crore for the second quarter ended 30 September.

The company had posted a standalone net profit of Rs 1,331.57 crore in the same quarter last fiscal, M&M said in a regulatory filing.

MM Q2 net profit rises 2387 to Rs 164946 cr total income up 85 to Rs 13835 cr

Representational image. Reuters.

Total income during the period under review stood at Rs 13,834.87 crore. It was at Rs 12,745.49 crore in the year-ago quarter.

Vehicle sales during the second quarter stood at 1,41,163 units as against 129,754 units in the same period last fiscal, a growth of 9 percent, the company said.

Tractor sales were, however, down by 5 percent to 73,012 units in the second quarter as against 76,984 units in the year-ago period, it added.

The company exported 9,244 vehicles during the current quarter, a growth of 18.9 percent over the corresponding quarter previous year.

On the outlook, the company said, "Going forward, growth will be a function of evolving liquidity conditions as well as private and government spending."

Among global factors, crude oil price behaviour and US-China trade policy manoeuvring will be the key factors to watch out for, it said.

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