The company had posted standalone net profit of Rs 915.38 crore in the same quarter last fiscal, M&M said in a BSE filing.
The firm's total standalone revenue from operations stood at Rs 11,363.63 crore during the period under review as against Rs 9,834.41 crore in the year-ago quarter, up 15.56 per cent.
Unit volume sales during the quarter stood at 1,14,795, up 11.6 per cent. Utility vehicles sales were at 52,287 units, up 15.6 per cent from the year-ago period.
M&M said its total vehicle exports were higher by 13.3 at 15,181 units during the second quarter.
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On the outlook, the company said, abundant and well spread monsoon will help revive farm income and push up private consumption.
"Prices of key agricultural inputs have stabilised which signals that farmer balance sheets are on the mend now and this will help revive the overall rural economy," it said.
The company said, the 7th Pay Commission and OROP have put money in the pockets of government employees and pensioners which will further help demand.
Shares of Mahindra & Mahindra Ltd were trading at Rs 1,287 apiece, down 2.60 per cent from the previous close on BSE.