M''M Q3 Profit Jumps 20% to Rs 3,181 Crore

Mumbai, Feb 7 (PTI) Mahindra & Mahindra Ltd on Friday reported a 20 per cent jump in consolidated Profit After Tax at Rs 3,181 crore in the December quarter over the corresponding quarter of the previous fiscal.

The company had posted a consolidated PAT of Rs 2,658 crore in the third quarter of FY23-24.

Revenue for the quarter under review grew 17 per cent year-on-year at Rs 41,470 crore from Rs 35,299 crore a year earlier, the company said.

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.

Auto segment revenue for the December quarter of the current fiscal was seen at Rs 23,391 cr, 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.