Mahindra and Mahindra reported its Q2 results on Thursday.

What Happened: Mahindra and Mahindra in its Q2 results reported a 13.19% year-on-year increase in net profit to ₹3,840.88 crore. The Thar maker’s revenue gained 12.94% to ₹27,553.26 crore in the September quarter.

Analysts had expected the company to post ₹3,585.95 crore in net profit and ₹27,182.3 crore in revenue.

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The auto segment reported the highest-ever quarterly auto volume at 2.31 lakh units which was up 9% from the previous year, along with the highest utility vehicle volume at 1.36 lakh units. The firm’s SUV capacity was at 54,000 units, increasing by 10% from FY24, the company said. The auto segment posted a 14% increase in revenue to ₹21,110.28 crore.

The farm equipment business revenue surged 9.75% to ₹6,496.81 crore. The segment posted its highest-ever Q2 market share at 42.5%, with volumes increasing by 4% from the previous year to 92,000 units. The farm machinery Q2 revenue increased by 14% to ₹253 crore.

Price Action: Shares of Mahindra and Mahindra were up 0.08% at ₹2,937 on Thursday, erasing losses earlier in the session.

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