M&M Q2 PAT rises 25% to Rs 4,588 crore on strong auto, finance performance
MUMBAI: Mahindra & Mahindra (M&M) on Thursday reported a 25% year-on-year rise in consolidated profit after tax (PAT) to Rs 4,588 crore for the second quarter of FY27, driven by strong growth in its automobile business and improved profitability across its financial services and technology businesses.
Consolidated revenue from operations rose 25% to Rs 57,553 crore during the July-September quarter, compared with Rs 46,106 crore in the corresponding period last year.
On a standalone basis, net profit rose 13% to Rs 5,102 crore, while revenue grew 26% to Rs 44,282 crore.
The automobile business was the principal growth driver, with consolidated PAT jumping 55% to Rs 2,388 crore, while revenue increased 39% to Rs 37,756 crore.
M&M’s automobile volumes rose 26% year-on-year to 3,30,896 vehicles during the quarter, including sales by subsidiaries. Utility vehicle volumes stood at around 1.83 lakh units, with SUV volumes growing 26%.
The company retained its leadership in the SUV segment, with a revenue market share of 24.3%. Its electric SUV portfolio continued to gain traction, commanding a revenue market share of 30.1% during the quarter.
The farm equipment business, however, witnessed a decline in both revenue and profitability, reflecting the impact of the festive season shift and higher commodity costs. Farm business consolidated PAT fell 9% to Rs 1,053 crore, while revenue declined 6% to Rs 9,572 crore. Tractor sales fell 6% to 1,16,027 units.
The services business reported an 18% increase in consolidated PAT to Rs 1,147 crore, with revenue also growing 18% to Rs 11,821 crore.
Among group companies, Mahindra Finance reported a 15% increase in assets under management (AUM), while its PAT attributable to M&M rose 61%. Tech Mahindra’s PAT rose 33%, with EBIT margin at 14.8%. Growth Gems reported a threefold increase in PAT to Rs 168 crore.
“Our Q2 F27 Consolidated PAT growth of 25 percent reflects the resilience of our group and underlines the disciplined execution across businesses. Auto continued to grow on the back of strong consumer demand, while Farm experienced a marginal decline on account of the festive season shift,” said Anish Shah, Group CEO and Managing Director, M&M.
