Monday, November 28, 2022

M&M logs Rs 2,089 crore PAT for Q2

Automobile major Mahindra & Mahindra Ltd on Friday said it had closed Q2FY23 with a net profit of Rs 2,089.92 crore.
The company said during the period under review, it had earned an operational revenue of Rs 20,839.27 crore (PY Q2 Rs 13,314.38 crore) and a net profit of Rs 2,089.92 crore (Rs 1,433.45 crore).
According to Dr. Anish Shah, Managing Director & CEO, the financial results reflect the progress the company has made on the strategic imperatives.
While the auto segment has led growth, we have seen steady performance across our group companies, he said.
According to Mitul Shah, Head Of Research at Reliance Securities, while M&M is expected to face some volume pressure owing to semiconductor issue over near term, its new products and stronger order book with record high bookings for new XUV700 and new Scorpio would drive its overall volume and profitability.

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