Mahindra & Mahindra gains 3% on healthy operational performance in Q2

The management expects tractor demand to remain robust during the upcoming festive season

Shares of Mahindra & Mahindra (M&M) rose 3 per cent to Rs 640 on the BSE on Wednesday after the company reported healthy operational performance in the September quarter (Q2FY21). The stock of cars & utility vehicles company hit a 52-week high of Rs 666 on September 21, 2020.

The company’s operating margin (OPM) improved 370 basis points to 17.8 per cent in Q2FY21 against 14.1 per cent in Q2FY20. The margin performance was attributable to lower other expenses and employee costs. Revenues grew 6 per cent year-on-year (YoY) to Rs 11,590 crore from Rs 10,935 crore in the