M&M Q2 net profit grows to Rs 1,332 cr

Source: The Hitavada      Date: 11 Nov 2017 09:55:30


MUMBAI,

Nov 10,

(PTI),

HOME-GROWN utility vehicles major Mahindra and Mahindra on Friday reported a 24.79 per cent increase in standalone net profit at Rs 1,331.57 crore for the second quarter to September. The company had posted standalone net profit of Rs 1,067.03 crore in the year-ago quarter. Revenue from operations for the quarter under review was at Rs 12,182.07 crore while it stood at Rs 11,446.14 crore in the same period last fiscal.

The figures are not comparable due to GST implementation from July this year, the company said in a BSE filing. The Board of Directors at its meeting held today has recommended the issue of bonus shares in the ratio of 1:1, which is one bonus share of Rs 5 each for every one fully paid-up share of Rs 5 each.