M&M Q2 net profit at Rs 843.6 cr

Auto maker Mahindra & Mahindra today reported a net profit of Rs 843.6 crore for the second quarter ended September 30, 2009, driven by good sales in both automotive and farm equipment sectors.

The company, which posted net profit of 373.3 crore in the same quarter previous fiscal, said its results are not comparable owing to restatement of accounts after merger of Punjab Tractors last year, M&M said in a filing to the Bombay Stock Exchange.

Gross revenues and other income stood at Rs 8,262.2 crore in the second quarter, while it had reported Rs 7,768.8 crore in the same period a year ago.

During the quarter the company's utility vehicle segment witnessed 43.7 per cent growth selling 55,280 units against 38,462 units in the corresponding period last year.

In the farm equipment sector, the company's tractor sales grew by 27.1 per cent at 93,105 of tractors as against 73,227 tractors sold in Q2 last year.

Shares of Mahindra & Mahindra were trading at Rs 933 on the BSE, up 4.52 per cent from its previous close.