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Mahindra & Mahindra second-quarter profit up about 25 percent

Reuters 2017-11-10 14:28:47

REUTERS - Mahindra & Mahindra Ltd (MAHM.NS) reported a 25 percent jump in quarterly profit, beating street estimates.

FILE PHOTO: The logo of Mahindra and Mahindra is seen at a showroom in Mumbai, India, August 30, 2016. REUTERS/Danish Siddiqui/File Photo

Net profit for the quarter ended Sept. 30 rose to 13.32 billion rupees ($204.73 million) from 10.67 billion rupees in the year-ago quarter.

Analysts on average had expected a profit of 11.31 billion rupees, according to Thomson Reuters Eikon data.

Revenue from operations rose 6.4 percent to 121.82 billion rupees.

Mahindra shares were up 2.1 percent at 1390 rupees as of 0856 GMT

($1 = 65.0600 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Gopakumar Warrier