M&M drops after declaring Q2 result

Mahindra & Mahindra fell 3.01% to Rs 767.35 at 15:12 IST on BSE after the company announced Q2 results during trading hours today, 14 November 2018.

Meanwhile, the S&P BSE Sensex was down 2.54 points, or 0.01% to 35,141.95

On the BSE, 1.68 lakh shares were traded in the counter so far compared with average daily volumes of 1.06 lakh shares in the past two weeks. The stock had hit a high of Rs 797.85 and a low of Rs 765.60 so far during the day.

Mahindra & Mahindra (M&M) combined profit from ordinary activities after tax (after El) rose 26% to Rs 1779 crore in Q2 September 2018 over Q2 September 2017. Combined revenues and other income rose 8% to Rs 13638 crore in Q2 September 2018 over Q2 September 2017. Combined operating profit margin (OPM) was reported at 14.5% in Q2 September 2018, lower than 16% in Q2 September 2017.

The results for M&M include the combined results of Mahindra and Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML), which is a manufacturing unit of M&M.

In its outlook M&M said that 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 watchout for.

M&M enjoys a leadership position in utility vehicles, and is the world's largest tractor company, by volume.

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