Mahindra & Mahindra (M&M) will today announce its financial results for the second quarter of FY24. The passenger vehicle (PV) and commercial vehicles (CV) manufacturer is expected to see decent revenue growth in Q2FY24 on the back of strong volumes, while margins may remain under pressure sequentially due to unfavorable mix. From a demand standpoint, the July-September quarter of FY24 was a mixed bag for the automobile industry led by year-on-year (YoY) expansion for PVs and CVs.
Dispatches for SUV remained strong fueled by order book execution and improvement in supply chain situation. However, demand moderated for lower-end PVs in the overall auto sector. Among all the segments, MHCV appeared to be better placed despite a drop in discounts, driven by healthy demand across most of the underlying industries, analysts said.
Also Read: Q2 Results today: Hindalco, M&M, ONGC, Coal India, others to announce Q2 earnings M&M’s total volume growth remained strong in Q2FY24 led by improving supply chain and execution of order books. However, weakness was seen in tractor volumes. The company’s total volume growth during the quarter was 11% YoY at 302,139 units.
M&M’s revenue in the quarter ended September 2023 is expected to rise 19% to ₹25,000 crore from ₹21,010 crore in the corresponding quarter of last fiscal year, as per average estimates of five brokerages. The company’s net profit during the quarter is expected to rise 27% to ₹2,944.2 crore from ₹2,315.9 crore, YoY. Net realization is expected to improve by 7.1% to ₹82,384.6 crore from ₹76,897.4 crore, YoY.
Read more on livemint.com