M&M Q3 results: PAT rises 39% to Rs 5,021 crore; revenue crosses Rs 50,000 crore for first time

Mahindra & Mahindra Ltd (M&M) on Wednesday reported a 38.54 per cent year-on-year rise in consolidated profit after tax (PAT) at Rs 5,021.47 crore for the quarter ended December 31, 2025.

The company had posted a consolidated PAT of Rs 3,624.48 crore in the corresponding quarter of the previous fiscal.

Consolidated revenue from operations increased to Rs 51,579.95 crore in the December quarter, compared with Rs 41,464.98 crore a year earlier. The company said this marks the first time it has crossed the Rs 50,000 crore revenue milestone on a consolidated basis.

Total expenses during the quarter rose to Rs 41,464.98 crore from Rs 37,096.65 crore in the year-ago period. The group also incurred an exceptional outgo of Rs 292.94 crore related to the implementation of new Labour Codes.

In the automotive segment, quarterly volumes stood at 3.02 lakh units, up 23 per cent from the same quarter last fiscal. Farm sector volumes came in at 1.5 lakh units, also reflecting a 23 per cent year-on-year growth.

Commenting on the performance, M&M Group CEO and Managing Director Anish Shah said the company delivered a solid operating performance across businesses in Q3 FY26, reflecting its focus on growth and disciplined execution.

Mahindra Finance reported meaningful growth in PAT while maintaining asset quality, he said. Shah added that Mahindra Logistics and Mahindra Lifespaces recorded strong performances during the quarter.

Mahindra Logistics reported its first profitable quarter after 11 quarters, while Mahindra Lifespaces posted a five-fold rise in PAT. The company also announced the launch of Signature Luxury resorts at Mahindra Holidays.

Shares of M&M were trading largely unchanged after the results announcement. At last check, the stock was up 0.01 per cent at Rs 3,675.65.