Mahindra & Mahindra (M&M), the mobility and farm sector flagship of Mahindra Group, reported a stellar rise in consolidated net profit and revenue for the third quarter ended December 31, 2024.
The company booked a consolidated profit of Rs 3,181 crore, up 20% year-on-year. Revenue from operations rose over 17% to Rs 41,470 crore during the considered period. Besides SUVs and tractors, LCVs (sub-3.5 tonne), 3-wheeler EVs, Mahindra Finance and Tech Mahindra contributed to a good set of Q3 numbers.
Commenting on the performance, Dr. Anish Shah, Managing Director & CEO, M&M said: “Our businesses continue to demonstrate strength in execution. Auto and Farm delivered solid performance on market share and margins, on the back of focused execution. The transformation at TechM is gathering momentum. MMFSL continues to balance asset quality and growth priorities, with GS under 4% on the back of strong AUM growth. Our Growth Gems are demonstrating steady progress towards their long-term objectives.”
Mr. Rajesh Jejurikar, ED & CEO, M&M highlighted the company’s numero uno position in the SUV space, with revenue market share at 23%, up 200 bps. In the light commercial vehicle (sub-3.5 tonne) category, M&M has registered a 230bps gain in market share at 51.9%; The company achieved its highest ever Q3 tractor market share at 44.2%, booking a gain of 240 bps over the corresponding quarter of the previous year.
“The launch of our flagship Electric Origin SUVs, the BE 6 and XEV 9e sets a new benchmark in global innovation. Thar ROXX won the Indian Car of the Year (ICOTY) as well as Autocar car of the year,” Mr Jejurikar added.
M&M’s impressive earnings come on the back of macroeconomic headwinds buffeting the world of business. The company has managed to steer towards a safe harbour on account of our quality products and services, superior execution capabilities and disciplined capital allocation.
“Our operating businesses remain laser focused on execution and we remain committed to disciplined capital allocation to drive long term shareholder value creation,” said Mr. Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd.
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