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Mahindra & Mahindra second-quarter profit rises about 24 percent, beats estimates

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Standalone profit after tax, which does not include the share of profit from unit Mahindra Vehicle Manufacturers Ltd, stood at Rs 1,649 crore ($228.28 million) for its fiscal second quarter that ended Sept. 30, compared with Rs 1,332 crore a year earlier.

Mahindra & Mahindra Ltd posted a 23.9 percent rise in quarterly profit on Wednesday, beating street estimates, helped by higher revenue from its automotive segment.
Standalone profit after tax, which does not include the share of profit from unit Mahindra Vehicle Manufacturers Ltd, stood at Rs 1,649 crore ($228.28 million) for its fiscal second quarter that ended Sept. 30, compared with Rs 1,332 crore a year earlier.
Analysts on average expected a quarterly profit of 13.08 billion rupees, according to IBES data from Refinitiv.
Revenue from operations grew 6.6 percent to Rs 12,989 crore.

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