Mahindra & Mahindra Q2 Standalone Net Profit Surges 66.9% to Rs 3,451.88 Crore

10 Nov 2023 , 03:24 PM

Mahindra & Mahindra posts standalone net profit of Rs 3,451.88 crore in Q2FY24, marking a robust 66.9% YoY growth. Standalone revenue from operations for the quarter rises by 15.7% to Rs 24,309.89 crore, compared to Rs 21,010.13 crore in the same period last fiscal.

Earnings before interest, tax, depreciation, and amortization (EBITDA) witness a 20% YoY increase to Rs 2,935 crore, with EBITDA margin improving to 12.1% from 11.6%. On a consolidated basis, M&M reports a 15% YoY increase in revenue to Rs 34,436 crore and a 6% YoY rise in net profit to Rs 2,348 crore.

Auto segment experiences rapid growth, doubling its operating profit, while the Farm segment remains resilient amid challenging market conditions. H1 PAT growth stands at 18%, aligning with the company’s strategy to transform core businesses and achieve 5x growth challenge.

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