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Reading: M&M Q2 profit jumps 35 pc, leads market in SUVs, LCVs and tractors – World News Network
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Latest World News Update > Blog > Business > M&M Q2 profit jumps 35 pc, leads market in SUVs, LCVs and tractors – World News Network
Business

M&M Q2 profit jumps 35 pc, leads market in SUVs, LCVs and tractors – World News Network

worldnewsnetwork
Last updated: November 7, 2024 12:00 am
worldnewsnetwork 8 months ago
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Mumbai (Maharashtra) [India], November 7 (ANI): Mahindra & Mahindra Limited (M&M) reported growth in the second quarter of Financial Year (FY)25, with consolidated Profit After Tax (PAT) reaching Rs 3,171 crore, a 35 per cent year-on-year increase.
According to a release, the company, which leads the Indian market in SUVs, light commercial vehicles (LCVs), tractors, and electric three-wheelers, also posted a consolidated revenue of Rs37,924 crore, marking a 10 per cent growth over Q2 FY24.
M&M maintained its number 1 position in the SUV market, achieving a 21.9 per cent revenue market share, up 190 basis points year-on-year, with SUV volumes rising by 18 per cent in Q2 and 21 per cent year-to-date.
M&M’s market share in LCVs below 3.5 tons increased to 52.3 per cent, and in the tractor segment, the company hit a record Q2 market share of 42.5 per cent. The company also leads in the electric three-wheeler segment with a 43.6 per cent market share.
The Auto division reached new heights with quarterly volumes of 2,31,000 units, marking a 9 per cent increase. SUV volumes hit 1,36,000 units, the highest on record.
The segment’s consolidated revenue climbed to Rs21,755 crore, a 15 per cent increase, while PAT surged by 40 per cent to Rs1,423 crore. The successful launch of the Thar Roxx contributed to this growth, along with a 10 per cent increase in SUV production capacity.
The Farm sector reached its highest-ever Q2 market share at 42.5 per cent, with volumes increasing by 4 per cent year-on-year. Despite some international market challenges, the division’s revenue reached Rs8,194 crore. Standalone Profit Before Interest and Tax (PBIT) rose by 20 per cent, with margins improving to 17.5 per cent.
Mahindra Finance saw a 20 per cent increase in assets under management (AUM), with non-performing assets (GS3) improving to 3.8 per cent and end losses reduced to 1 per cent.
Tech Mahindra contributed to the company’s overall growth with a 490 basis point improvement in EBIT margin and strong performance in the BFSI sector.
Anish Shah, Managing Director & CEO, M&M Ltd. said, “Our businesses have delivered a solid operating performance this quarter. Auto and Farm continued to strengthen market leadership by gaining market share and expanding margins. MMFSL GS3 remained under 4 per cent (at 3.8 per cent) and end losses have improved structurally.”
He added, “TechM delivered a good quarter and the long-term focus remains on reverting to past profitability. Our growth gems are progressing well on the 5x challenge.” (ANI)

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