M&M Q2 Results: Net Profit Soars at Rs 3,452 crore, Surpassing Expectations

November 10, 2023

New Delhi, India

M&M Q2 Results

Mahindra & Mahindra (M&M) has reported stellar results for the second quarter, with a standalone net profit of Rs 3,452 crore, marking a remarkable 66.7% YoY surge. The standout performance has not only beaten Street expectations but also underscores the company’s robust financial health.

Positive Outlook:

Strong SUV Sales Drive Growth:

M&M attributes its impressive net profit growth to a surge in SUV sales, signalling a successful strategy in a key market segment.

Year-on-Year Success:

The substantial 66.9% YoY increase in quarterly net profit highlights M&M’s ability to capitalise on market opportunities and effectively manage costs.

Financial Metrics:

Revenue Growth and Operating Efficiency

Standalone revenue from operations rose by 15.7%, reaching Rs 24,309.89 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) improved by 20%, reaching Rs 2,935 crore, with an enhanced EBITDA margin of 12.1%.

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CEO’s Perspective:

Anish Shah, Managing Director & CEO of M&M Ltd, expressed satisfaction with the robust operating performance across the Auto, Farm, and Services segments. He highlighted the auto segment’s doubled operating profit and the farm segment’s resilience amid challenging market conditions.

Market Impact:

Exceeding Analysts’ Expectations

The Q2 results surpassing analysts’ expectations are likely to boost market sentiment, potentially impacting Mahindra & Mahindra’s standing and stock prices positively.


Mahindra & Mahindra’s(M&M) exceptional Q2 performance underscores its prowess in navigating market dynamics and strategic decision-making. The company’s focus on SUVs and effective cost management has translated into impressive financial results, positioning it for sustained growth.

Check Latest: Q2 Results


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