M&M Q2 earnings: Net profit rises 35%, revenue at Rs 37,924 crore

Automaker Mahindra & Mahindra (M&M) reported a 35% rise in profit for the quarter ended September 2024. Net profit climbed to Rs 3171 crore in Q2 against Rs 2348 crore in Q2 of the previous fiscal. Revenue came at Rs 37,924 crore in Q2 , a rise of 10% against Rs 34,436 crore in the corresponding quarter of the previous fiscal. 

The company said it reported highest ever quarterly volumes at 2,31,000, up 9% and highest ever quarterly utility vehicle volumes at 1,36,000. 

Anish Shah, Managing Director & CEO, M&M Ltd. said, “Our businesses have delivered a solid operating performance this quarter. Auto and Farm continued to strengthen market leadership by gaining market share and expanding margins. MMFSL GS3 remained under 4% (at 3.8%) and end losses have improved structurally. TechM delivered a good quarter and the long-term focus remains on reverting to  past profitability. Our growth gems are progressing well on the 5x challenge.”

 However, M&M stock was trading flat at Rs 2926.10 in the afternoon session today against the previous close of Rs 2934.70 on BSE. Market cap of the firm stood at Rs 3.63 lakh crore.