MUMBAI, November 17: Jeep and utility vehicle major Mahindra & Mahindra (M&M) has reported a net profit of Rs 112.44 crore for the first half of the current year, a 21.64 per cent jump from Rs 92.43 crore in the corresponding period last year. Led by increased tractor sales, the total income (net of excise) was Rs 1,637.61 crore as against Rs 1,466.89 crore, marking an increase of 11.64 per cent.

The profit before interest, depreciation and tax went up 29.77 per cent to Rs 251.32 crore from Rs 193.67 crore. Interest during the period was Rs 58.31 crore as against Rs 30.31 crore. Depreciation was Rs 43.57 crore, compared to Rs 25.43 crore, while the tax provision was Rs 37 crore as against Rs 45 crore in the corresponding period last year.

According to a statement by the company, production of vehicles increased by 5.14 per cent to 36,599 from 34,809 units in the same period last year. Sales, inclusive of exports, totalled 35,994 as against 35,454.

Enhanced productivity and cost reductions have also helped buoy the operating profit margins which have jumped from 10.88 per cent to 12.3 per cent.

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