Mahindra's net profit falls 88% to 162 crore for the second quarter

Mahindra has said it sold 87,332 units in the second quarter, down 21 per cent from 1,10,824 units in the year-ago period.
By : PTI
| Updated on: 10 Nov 2020, 02:46 PM
File photo of Mahindra logo (MINT_PRINT)
File photo of Mahindra logo (MINT_PRINT)
File photo of Mahindra logo (MINT_PRINT)
File photo of Mahindra logo

Mahindra & Mahindra (M&M) on Tuesday reported an 88 per cent drop in its profit after tax to 162 crore for the second quarter ended September 30, hit by lower sales during the period.

The auto major had reported a PAT of 1,355 crore during the July-September period last fiscal.

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Revenues of the company, however, increased by 6 per cent to 11,590 crore in the second quarter as against 10,935 crore in the same period last fiscal, M&M said in a regulatory filing.

(Also read | Mahindra offers discount, other benefits to govt employees on vehicle purchase)

The Mumbai-based firm said it sold 87,332 units in the second quarter, down 21 per cent from 1,10,824 units in the year-ago period.

Tractor sales, however, increased by 31 per cent to 89,597 units in the July-September period as compared to 68,359 units a year ago, it added.

M&M shares were trading 0.37 per cent up at 618.60 apiece on the BSE. PTI MSS BAL

First Published Date: 10 Nov 2020, 02:46 PM IST
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