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M&M Q2 net down 2.8% at Rs 737 cr
M&M has reported a net profit of Rs 737 crore in the second quarter of FY12, a fall of 2.8% as compared to Rs 758 crore in the corresponding quarter of last fiscal.
M&M has reported a net profit of Rs 737 crore in the second quarter of FY12, a fall of 2.8% as compared to Rs 758 crore in the corresponding quarter of last fiscal.
Revenues moved up 37.6% to Rs 7,307 crore from Rs 5,311 crore during the same period.
Topline was better than expectations but bottomline numbers disappointed the street. CNBC-TV18 poll saw revenues at Rs 7,314 crore and profit after tax of Rs 773 crore.
Operating profit margin grew at 11.87% in the July-September quarter of FY12 versus 16.4% in a year ago period.
On quarter-on-quarter basis, revenues shot up 9.3% and profit after tax jumped 22%.
Reasons for pressure on margins
Other expenditure was up 35% at Rs 715 crore from Rs 531 crore year-on-year.
Raw material as % of sales was higher at 72.6% versus 71.8% quarter-on-quarter.
Employee costs jumped to Rs 430 crore from Rs 358 crore YoY.
