What happened: Mahindra & Mahindra’s quarterly performance for the quarter ended June 30
Mahindra & Mahindra reported a rise in profitability and revenue for the quarter ended June 30, citing stronger operating performance. The reported results show growth across consolidated net profit, consolidated revenue, vehicle sales, and financial services assets under management (AUM).
Reported financial performance and operating indicators (quarter ended June 30)
Mahindra & Mahindra’s consolidated performance for the quarter ended June 30 includes the following reported numbers:
Consolidated net profit increased 34% year-on-year to ₹5,455 crore.Consolidated revenue increased 28% year-on-year to ₹58,188 crore.Mahindra & Mahindra stated that auto and farm sector businesses continued delivering growth and margin improvement, with profits up 18%.Vehicle sales increased 23% year-on-year to 304,000 vehicles.Mahindra & Mahindra reported SUV sales of 175,000 for the quarter.Financial services AUM increased 13%.Tech Mahindra was reported to see margin expansion, with EBIT improving by 330 basis points.Mahindra Logistics was reported to show 23% revenue growth.