Thu Nov 07 09:44:52 UTC 2024: ## Mahindra & Mahindra Reports 35% Profit Surge in Q2 2024
**Mumbai, India:** Automaker Mahindra & Mahindra (M&M) has announced a strong performance in the quarter ending September 2024, reporting a 35% increase in profit compared to the same period last year.
The company’s net profit for Q2 FY25 reached Rs 3171 crore, up from Rs 2348 crore in Q2 FY24. Revenue also grew by 10% to Rs 37,924 crore, compared to Rs 34,436 crore in the corresponding period last year. This growth was driven by strong performance in both the auto and farm sectors, with M&M gaining market share and expanding margins.
M&M achieved record-breaking quarterly volumes, selling 2,31,000 units, an increase of 9% year-on-year. The company also reported its highest ever quarterly utility vehicle volumes at 1,36,000.
“Our businesses have delivered a solid operating performance this quarter,” said Anish Shah, Managing Director & CEO, M&M Ltd. “Auto and Farm continued to strengthen market leadership by gaining market share and expanding margins. Our growth gems are progressing well on the 5x challenge.”
Despite the strong financial results, M&M stock traded flat on the BSE today, closing at Rs 2926.10. The firm’s market cap stood at Rs 3.63 lakh crore.
First Piper 