M&M’s Q2 standalone net profit up 24%

Mumbai: Automobile major Mahindra and Mahindra (M&M) on Wednesday reported a 23.79 per cent rise in its standalone net profit for the quarter-ended September 30, 2018-19.

According to the company, the net profit during the quarter under review rose at Rs 1,649 crore from Rs 1,332 crore reported in the corresponding period of financial year 2017-18 (FY18).

On a combined basis, M&M and Mahindra Vehicle Manufacturers (MVML) net profit during Q2 rose by 26 per cent to Rs 1,779 crore from Rs 1,411 crore reported for the corresponding period of the previous fiscal.