M&M’s Q2FY22 YoY net profit rises to Rs 1,432 cr

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Automobile major Mahindra & Mahindra (M&M) on Tuesday reported an exponential rise in its net profit, after exceptional item, for the July-September quarter to Rs 1,432 crore.

During the same period last year, the company had reported a net profit of Rs 162 crore.

Besides, M&M’s Q2FY22 revenue zoomed 15 per cent on a year-on-year basis to Rs 13,305 crore.

On a consolidated basis, Mahindra Group’s net profit after an exceptional item rose 214 per cent to Rs 1,929 crore from Rs 615 crore.

Furthermore, consolidated revenue rose to 12 per cent to Rs 21,470 crore during the period under review on a YoY basis.

M&M Managing Director and CEO, Anish Shah: “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.”

–IANS

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