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Mahindra & Mahindra’s revenue during October-December 2024 grows 17% year-on-year to Rs 41,470 crore, compared with Rs 35,299 crore in the year-ago period.
Mahindra & Mahindra Q3 Results.
Mahindra & Mahindra Ltd on Friday reported a 20 per cent jump in its consolidated profit after tax at Rs 3,181 crore for third quarter ended December 31, 2024. Its revenue during October-December 2024 grew 17 per cent year-on-year to Rs 41,470 crore, compared with Rs 35,299 crore in the year-ago period.
The company had posted a consolidated PAT of Rs 2,658 crore in the third quarter of FY23-24.
In the auto segment, the company said, quarterly volumes stood at 245k, up 16 per cent year-on-year while UV volumes for the quarter stood at 142k.
The auto segment’s revenue during Q3 FY25 was seen at Rs 23,391 crore, a growth of 21 per cent over the same quarter last year while consolidated Profit After Tax (PAT) stood at Rs 1,438 crore, up 20 per cent year-on-year, it 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,” said Anish Shah, Managing Director & CEO, M&M Ltd.
He said Mahindra Financial services MMFSL continues to balance asset quality and growth priorities, with Gross stage (GS) under 4 per cent on the back of strong AUM (Assets Under Management) growth.
“Our growth gems are demonstrating steady progress towards their long-term objectives,” Shah added.
“In Q3 FY25, we were No. 1 in SUV revenue market share with 200 bps Y-o-Y increase. LCV < 3.5 T volume market share is at 51.9 per cent, a gain of 230 basis points.
“The Auto segment PBIT (Profit Before Interest and Taxes) is up by 120 basis points Y-o-Y. We achieved the highest ever Q3 tractor market share at 44.2 per cent, gain of 240 bps Y-o-Y, and farm PBIT is up by 260 bps Y-o-Y,” said Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd.
The company’s Q3 consolidated results reflect strong performance across multiple businesses despite global headwinds, said Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd. “Our operating businesses remain laser-focused on execution, and we remain committed to disciplined capital allocation to drive long-term shareholder value creation,” he added.
(With PTI Inputs)
