Mahindra Sees 8-Fold Growth In Q2 FY2022 Profit At Rs. 1,432 Crore; Total Revenue Up 15%
- Mahindra's Q2 FY2022 profit grew 8X to Rs. 1,432 crore
- Mahindra's total revenue stood at Rs. 13,305 crore, a growth of 15%
- Between July & September 2021, Mahindra sold 99,334 vehicles in India
Mahindra & Mahindra has released the financial results for the second quarter of Financial Year 2021-22. In the quarter that ended with September 30, 2021, the home-grown automaker registered a Profit After Tax (PAT) of Rs. 1,432 crore, an 8X growth compared to Rs. 162 crore profit that the company reported during the same quarter in 2020. Between July and September 2021, M&M's total revenue from operations stood at Rs. 13,305 crore, a growth of 15 per cent compared to Rs. 11,590 crore revenue the automaker registered in Q2 FY2021.
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Mahindra Group's consolidated PAT for the previous quarter stood at Rs. 1,929 crore, a growth of 214 per cent, compared to Rs. 615 crore profit reported in Q2 FY2021. The group's consolidated revenue for the period stood at Rs. 21,470 crore, 12 per cent more compared to Rs. 19,227 crore revenue registered during the same quarter of the previous fiscal year.
Commenting on the company's strong performance, Anish Shah, Managing Director & CEO, M&M, said, "We have seen significant all-around improvement in our performance this quarter. Our strong show in the Auto and Farm sectors was complemented well by the improved performance in the group companies. Our investments in digital platforms are doing well and present a meaningful opportunity to create and unlock value."
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Mahindra's half-yearly performance was equally impressive, with the company reporting a 9X growth in PAT to Rs. 2,287 crore, against H1 FY2021. Also, between April and September 2021, M&M's revenue grew 46 per cent to Rs. 25,068 crore. At the same time, the group's consolidated PAT grew 316 per cent to Rs. 2,353 crore, while the consolidated revenue grew 30 per cent to Rs. 40,642 crore.
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Between July and September 2021, Mahindra & Mahindra sold 99,334 vehicles in India, a growth of 9 per cent compared to 91,536 units sold during the same period in 2020. During the July-September 2021 quarter, Mahindra overall received more than 1.6 lakh passenger vehicle bookings, out of which, the XUV700 alone accounted for over 70,000 bookings.
The company's tractor sales, however, fell 5 per cent to 88,920 units in Q2 FY2021, compared to the previous fiscal year, when the company sold 93,246 tractors. Having said that Mahindra Tractors Market Share grew by nearly 2 per cent to 40.1 per cent in Q2 FY2022. Also, the company's Farm Equipment Sector exports grew 105 per cent in H1 FY2022, compared to last year.