Mahindra & Mahindra Ltd (M&M) and Mahindra Vehicle Manufacturers Ltd (MVML) on Tuesday reported a net profit of Rs 1,929 crore for the quarter ended September. The net profit is more than three times higher than Rs 615 crore reported during the same quarter last year.

The auto major reported revenue of Rs 13,305 crore for the July-September period, up 14.8 percent on a year-on-year basis.

Its earnings before interest, taxes, depreciation and ammortisation (EBITDA) stood at Rs 1,660 crore for the second quarter of the current financial year, down 19.3 percent on year.

The company reported an EBITDA margin of 12.5 percent in the three months to September 30, as against 17.8 percent in the year-ago period.

The company's revenue and EBITDA exceeded Street estimates, but the EBITDA margin fell short of expectations.

Analysts in a CNBC-TV18 poll had predicted the company's quarterly revenue at Rs 12,348 crore.

The analysts had estimated the company's EBITDA at Rs 1,603 crore and EBITDA margin at 12.9 percent.

Mahindra & Mahindra shares extended intraday gains after the earnings announcement, rising as much as 3.2 percent to Rs 887.2 apiece.

At 2:25 pm, the M&M stock was left with a gain of 1.9 percent at Rs 875.9 apiece on the bourse. The headline Sensex index was down 0.2 percent at the time.

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(Edited by : Sandeep Singh)

First Published:Nov 9, 2021 2:38 PM IST