{"id":4882,"date":"2024-11-07T13:11:36","date_gmt":"2024-11-07T07:41:36","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4882"},"modified":"2024-11-07T13:11:36","modified_gmt":"2024-11-07T07:41:36","slug":"mahindra-mahindras-q2-profit-surges-35-to-rs-3171-crore-driven-by-record-suv-sales-and-strong-services-growth","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/mahindra-mahindras-q2-profit-surges-35-to-rs-3171-crore-driven-by-record-suv-sales-and-strong-services-growth\/","title":{"rendered":"Mahindra & Mahindra\u2019s Q2 Profit Surges 35% to Rs 3,171 Crore, Driven by Record SUV Sales and Strong Services Growth"},"content":{"rendered":"\n

Mahindra & Mahindra Ltd. (M&M) posted a 35% increase in consolidated net profit to Rs 3,171 crore for Q2 FY25, benefiting from strong performance in its automotive and services sectors and a boost in SUV sales.<\/p>\n\n\n\n

According to its filing on the stock exchange, the company\u2019s consolidated income from operations rose 10% to Rs 37,924 crore. Following this earnings report, M&M shares reversed earlier losses, trading at Rs 2,939 on the NSE at 12:25 pm, up 0.15%.<\/p>\n\n\n\n

M&M\u2019s auto division reached a record high, with 231,000 units sold, pushing consolidated revenue from the segment up by 15% to Rs 21,755 crore. Segmental profit after tax (PAT) grew by 40%, hitting Rs 1,423 crore. This growth was bolstered by the launch of the Thar Roxx and expanded SUV capacity, with SUV sales volume increasing 18%, lifting M&M\u2019s market share by 190 basis points to 21.9%.<\/p>\n\n\n\n

CEO Anish Shah commented, \u201cOur Auto and Farm sectors continued to gain market share and strengthen margins, supporting our leadership in these markets.\u201d<\/p>\n\n\n\n

Domestic tractor demand rebounded in the farm equipment segment, with sales rising 4% to 92,382 units. However, global challenges led to a slight dip in revenue to Rs 8,194 crore, while PAT for the segment remained steady at Rs 800 crore.<\/p>\n\n\n\n

The services segment also posted robust results, with consolidated revenue rising 12% to Rs 9,010 crore, and PAT almost doubling to Rs 947 crore, driven by Mahindra Finance\u2019s growth and improved margins at Tech Mahindra. Mahindra Finance\u2019s assets under management rose 20%, with gross stage 3 assets improving to 3.8%. Meanwhile, Tech Mahindra saw a 490 basis point increase in EBIT margin.<\/p>\n\n\n\n

On a standalone basis, M&M reported a net profit of Rs 3,841 crore, up 13% from last year, with revenue climbing 12% to Rs 28,919 crore. These figures exceeded projections from a Moneycontrol brokerage poll, which had anticipated a standalone profit of Rs 3,452 crore and revenue of Rs 27,144 crore for the quarter.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a><\/p>\n\n\n\n

Source:\u00a0Moneycontrol<\/a><\/sup><\/sub><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Mahindra & Mahindra Ltd. (M&M) posted a 35% increase in consolidated net profit to Rs 3,171 crore for Q2 FY25, benefiting from strong performance in its automotive and services sectors and a boost in SUV sales. According to its filing on the stock exchange, the company\u2019s consolidated income from operations rose 10% to Rs 37,924 […]<\/p>\n","protected":false},"author":1,"featured_media":4883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[62],"tags":[641,642],"class_list":["post-4882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-results","tag-mahindra-mahindra-q2","tag-q2-results"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4882"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4882\/revisions"}],"predecessor-version":[{"id":4884,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4882\/revisions\/4884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4883"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}