Mahindra BoleroMahindra & Mahindra Ltd (M&M) on Tuesday reported a 28 per cent increase in its consolidated net profit for the quarter ended September 30, to ₹3,673 crore driven by robust SUV sales and continued leadership in key commercial vehicle segments. The carmaker had posted a net profit of ₹3,171 crore in the year-ago period.
The carmaker’s overall consolidated revenue grew 22 per cent year-on-year to ₹46,106 crore.
The company’s automotive business revenue rose 25 per cent year-on-year to ₹27,171 crore, with profit before interest and tax (PBIT) growing 22 per cent to ₹2,538 crore. The standalone automotive PBIT margin (excluding e-SUV contract manufacturing) improved by 80 basis points to 10.3 per cent, reflecting better operating efficiency and product mix.
Mahindra continued to strengthen its leadership in the SUV segment, achieving a 25.7 per cent revenue market share, up 390 basis points from last year, led by strong demand for models like the Scorpio-N, XUV700, and Thar. The company also retained its top position in the light commercial vehicle (LCV) segment under 3.5 tonnes with a 53.2 per cent share, and in electric three-wheelers with a 42.3 per cent share.
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), said, “Our auto business continues to deliver robust growth, gaining market share across segments while improving profitability. We are well positioned for the next phase of our growth with our upcoming launches and EV plans.”
