Mumbai: Mahindra and Mahindra's net profit for the second quarter surged to Rs 386.5 crore, up 145.9 per cent from Rs 157.2 crore in the same quarter last year.
The company's gross revenue for the second quarter stands at Rs 2,890.1 crore, a growth of 30.6 per cent against Rs 2,212.1 crore in the corresponding quarter last year.
Overall, the Mahindra & Mahindra group's profit has also gone up. The group has posted Rs 510.3 crore as against Rs 218.7 crore in the same period last year, a growth of 133.3 per cent.
The group's revenue stood at Rs 4,617.6 crore, up from Rs 3,170.1 crore in the same quarter last year, a growth of 45.7 per cent.
Bharat Doshi, executive director of Mahindra & Mahindra, said the company has witnessed a "healthy growth" in the second quarter.
The company has witnessed a growth of 15 per cent in the auto sector and the volumes are up by 29 per cent, the company said.
The company is back in the negotiation table with the Romanian government over the acquisition of Tractorul Brasov, a tractor manufacturer.
Earlier, talks between both the parties failed because of a complicated EU norm, which made it impossible for Mahindra to acquire Tractorul, Doshi said.
However, now the Romanian government has got back to Mahindra and has promised to find a way out for the company's acquisition of Tractorul.
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