Passenger vehicle segment will see double-digit growth for FY18: M&M

M&M has posted good set of Q2 numbers with margin jump being the biggest highlight. In an interview to CNBC-TV18, VS Parthasarathy, CFO, Mahindra and Mahindra (M&M) spoke about the results and his outlook for the company.

Passenger vehicle segment will see double-digit growth for FY18, there is a bounce back in the rural demand on a back of a good monsoons and pick-up in rural demand, he said.

In automotive business with more new products on the anvil, we are looking towards the second half of the year with a lot of positivity, he added.

Margins were higher due to good performance of both tractor and auto divisions. Also saw margin improvement due to higher realisations, said Parthasarathy.