M&M Q2 profit rises 23.87% to Rs 16.49 bn; vehicle sales surge 9%

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

The company had posted standalone net profit of Rs 13.31 billion in the same quarter last fiscal, M&M said in a regulatory filing.
 

Total income during the period under review stood at Rs 138.34 billion. It was at Rs 127.45 billion in the year-ago quarter.
 

Vehicle sales during the second quarter stood at 141,163 units as against 129,754 units in the same period last fiscal, a growth of 9 per cent, the company said.
 

Tractor sales were, however, down by 5 per cent to 730,12 units in the second quarter as against 769,84 units in the year-ago period, it added.
 

The company exported 9,244 vehicles during the current quarter, a growth of 18.9 per cent 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.