M&M Q3 net rises 35% to ₹2,677 crore on higher vehicle sales
The Hindu
‘Operating margins improved by 130 basis points YoY led by operating efficiencies and focus on fiscal discipline’
Mahindra & Mahindra (M&M) Ltd. reported third-quarter consolidated net profit grew 35% year-on-year (YoY) to ₹2,677 crore on higher vehicle sales.
Consolidated revenue at ₹30,620 crore jumped 30%, the company said in a filing.
“We have had another robust quarter led by the robust performance of our auto division. Our farm division also reported healthy growth with increased market share,” said Anish Shah, Managing Director & CEO.
“Our capital allocation actions are continuing to show results and we remain committed to our journey of growth and returns,” Dr. Shah added.
“Our efforts towards creating segment leading products and improving operational efficiencies have led to achievement of highest ever quarterly revenue and PBIT in Q3 F23 for Auto and Farm sectors,” said Rajesh Jejurikar, Executive Director.
“In SUVs, we continue to be leaders in revenue market share for the fourth consecutive quarter and have celebrated another successful launch of the XUV4OO. In the tractor business, we have achieved 41% market share, highest Q3 market share in last 5 years,”’he added.
Manoj Bhat, Group Chief Financial Officer, M&M Ltd, said the company’s operating margins improved by 130 basis points YoY led by operating efficiencies and our focus on fiscal discipline. “We recorded our highest- ever quarterly group revenue reflecting strong growth across businesses,” he added.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.