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HomeMarketResultsMahindra & Mahindra September quarter profit up 44% at Rs 2,773 crore

Mahindra & Mahindra September quarter profit up 44% at Rs 2,773 crore

Homegrown diversified group on Friday reported 44 per cent improve in consolidated revenue at Rs 2,773 crore for September quarter, boosted by sturdy gross sales throughout enterprise verticals.

The group had logged a internet revenue of Rs 1,929 crore in July-September final fiscal yr, (M&M) mentioned in a regulatory submitting.

Income from operations in the course of the quarter beneath assessment rose to Rs 29,870 crore from Rs 21,470 crore within the year-ago interval, it added.

M&M, on a standalone foundation, reported income of Rs 20,839 crore within the second quarter, up 57 per cent from Rs 13,314 crore in the identical interval a yr in the past, the corporate mentioned.

Revenue after tax elevated 46 per cent to Rs 2,090 crore in September quarter, as in comparison with the year-ago interval.

The auto main mentioned it bought a complete of 1,74,098 autos within the second quarter, increased 75 per cent from 99,334 models in September quarter 2021-22.

Tractor gross sales elevated 5 per cent to 92,590 models in September quarter 2022-23 as in contrast with 88,027 models within the year-ago interval.

M&M Managing Director & CEO Anish Shah mentioned the group’s sturdy monetary replicate the progress it has made in its strategic imperatives.

“Whereas the auto section has led progress, now we have seen regular efficiency throughout our group . Our journey of making worth and offering progress capital continued,” he added.

Elaborating additional, M&M Govt Director Rajesh Jejurikar mentioned:” It has been an action-packed quarter with a number of product launches and new merchandise throughout segments, along with partnership bulletins with BII and Volkswagen.”

The corporate has recorded its highest quarterly income for auto and farm segments, he added.

“In SUVs, we proceed to be the income market share chief. Festive gross sales have been sturdy this yr throughout auto and farm sectors. With the unveil of the XUV4OO and our Born Electrical Imaginative and prescient, we enter the Electrical SUV section and goal to determine management place sooner or later,” Jejurikar said.

Shares of the corporate have been buying and selling 0.38 per cent up at Rs 1,302.9 apiece on the BSE.

(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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