Mahindra & Mahindra reviews over 8-fold enhance in Q2 revenue at Rs 1,432 crore

Homegrown auto main Mahindra & Mahindra (M&M) on Tuesday reported an over eight-fold enhance in its standalone revenue after tax (PAT) at Rs 1,432 crore for the second quarter ended September 30, 2021, using on the again of strong gross sales.
The Mumbai-based firm had posted a standalone PAT of Rs 162 crore within the July-September interval of earlier fiscal.
Revenue for the second quarter rose by 15 per cent to Rs 13,305 crore as in opposition to Rs 11,590 crore within the year-ago interval, M&M mentioned in a regulatory submitting.
The firm mentioned it bought 99,334 autos in the course of the interval below evaluate, up 9 per cent from 91,536 items within the second quarter of final fiscal.
M&M tractor gross sales nevertheless declined by 5 per cent to 88,920 items within the second quarter as in opposition to 93,246 items within the year-ago interval.
On a consolidated foundation, the Mahindra Group reported a PAT of Rs 1,929 crore as in contrast with Rs 615 crore within the Q2 of 2020-21.
Revenue rose to Rs 21,470 crore within the second quarter as in opposition to Rs 19,227 crore within the year-ago interval.
“We have seen significant all around improvement in our performance this quarter. Our strong show in the auto and farm sectors was complemented well by the improved performance in the group companies. Our investments in digital platforms are doing well and present a meaningful opportunity to create and unlock value,” M&M Managing Director and CEO Anish Shah mentioned.
M&M Executive Director Rajesh Jejurikar said that the Farm Equipment Sector (FES) continued to ship strong efficiency each when it comes to market share and monetary metrics regardless of steep commodity inflation.
“We had a blockbuster XUV7OO launch witnessing bookings of more than 70k. The demand for our other key automotive products also remains strong. With better availability of semiconductors, we hope to maintain the volume growth momentum Q3 onwards,” he added.
M&M Group Chief Financial Officer Manoj Bhat famous that commodity costs have impacted the margins in each the auto and farm enterprise, however the firm’s deal with value administration and optimisation has helped mitigate a number of the affect.