Margins were higher due to a good performance of both tractor and auto divisions, said VS Parthasarathy, CFO, Mahindra & Mahindra (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.
There was no one-off in Q2 margin, they are likely to sustain going forward, he further mentioned.