Mahindra & Mahindra Reports Robust Q2 Growth Amidst Market Challenges

Mahindra & Mahindra reported a 35% rise in consolidated Profit After Tax to Rs 3,171 crore for Q2 FY24, with consolidated revenue increasing by 10% to Rs 37,924 crore. The company's auto and farm segments demonstrated strong market performance, highlighted by growth in profits and increased market share.

Mahindra & Mahindra Ltd announced on Thursday a significant 35% increase in its consolidated Profit After Tax (PAT), totaling Rs 3,171 crore for the three months ending September. This marks a considerable rise from the Rs 2,348 crore PAT noted in Q2 FY24.

The company detailed a consolidated revenue of Rs 37,924 crore for the September quarter, which reflects a 10% year-on-year increase from Rs 34,436 crore in the same period the previous year. According to a company statement, both the auto and farm segments have seen remarkable progress.

Anish Shah, Managing Director & CEO, hailed the strong operating performance and the strategic gains in market share for both sectors. Meanwhile, the auto segment posted its highest-ever quarterly volumes, and the farm sector achieved significant market share, despite facing macroeconomic challenges globally.

(With inputs from agencies.)