M&M Q1 Net Profit Up 20% At Rs 3,283 Cr, Revenue At Rs 37,218 Cr

Auto major Mahindra & Mahindra (M&M) on Wednesday reported a standalone net profit of ₹2,612.63 crore for the first quarter of FY25, a drop of 5.3% from ₹2,759.43 crore in the year-ago period. On a consolidated basis, the company reported a 6.4% year-on-year (YoY) drop in its net profit at ₹3,282.63 crore for the quarter. The company had posted a profit of ₹3,508.41 crore in the year-ago period. Revenue for the period came in at ₹37,218 crore, up 10% YoY from ₹33,892 crore in the June 2023-24 quarter. The company added that in the year-ago quarter, the company's PAT (profit after tax) included one-time gains on KG Mobility of Rs 405 crore and the MCIE stake sale of Rs 358 crore. Excluding them, the PAT figure was ₹2,745, which, when compared to Q1FY25's profit, translates to a rise of 19.58% in the figure. Commenting on the results, Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd, said, ” In Q1 F25, we gained market share in both auto and farm businesses. We achieved highest ever quarterly tractor volumes and also improved our core tractors PBIT margin by 110 bps YoY. We retained market leadership in SUVs with 21.6% revenue market share and in LCVs less than 3.5T, we crossed 50.9% volume market share. Auto standalone PBIT grew by 39% with margin improvement of 180 bps YoY”. Watch more details in his interview with Business Today TV Managing Editor Siddharth Zarabi.