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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.

Representational image. Reuters.

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.

Updated Date: Nov 14, 2018 15:27 PM

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