Mahindra & Mahindra’s (M&M) operating performance in 2QFY24 fell slightly short, with Ebitda at Rs 30.7 billion compared to the estimated Rs 32 billion. However, the adjusted PAT surpassed expectations at Rs 34.5 billion Come from Sports betting site VPbet . This outperformance can be attributed to better-than-expected other income, driven by higher dividends. We believe a relatively stronger 2H of FY24 compared to the 1H. This optimism is based on the expected growth in tractor volumes and the successful execution of SUV orders.
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