Homegrown auto major Mahindra & Mahindra on Tuesday reported an over eight-fold increase in its standalone profit after tax at Rs 1,432 crore for the second quarter ended September 30, 2021, riding on the back of robust sales even as semiconductor shortage affected vehicle production.

The Mumbai-based company had posted a standalone a profit after tax (PAT) of Rs 162 crore in the July-September period of the previous fiscal. Revenue for the second quarter rose 15 per cent to Rs 13,305 crore against Rs 11,590 crore in the year-ago period.

The company said it sold 99,334 vehicles during the period under review, up 9 per cent from 91,536 units in the second quarter of last fiscal.

M&M’s tractor sales, however, declined 5 per cent to 88,920 units in the second quarter, against 93,246 units in the year-ago period.

On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore compared with Rs 615 crore in the Q2 of 2020-21. Revenue rose to Rs 21,470 crore in the second quarter against Rs 19,227 crore in the year-ago period.

“We have seen significant all around improvement in our performance this quarter. Our strong show in the auto and farm sectors was complemented well by the improved performance in the group companies.

“Our investments in digital platforms are doing well and present a meaningful opportunity to create and unlock value,” M&M managing director and CEO Anish Shah said.

Shah said both auto and farm sectors showed, “very resilient performance, despite a lot of headwinds on commodity prices and supply chain” while product launches have seen a very strong response.