Mahindra & Mahindra reported a 20% increase in its consolidated net profit for the first quarter ended June 30, 2024, achieving INR 3,283 crore. This is up from the INR 2,745 crore profit after tax recorded in the same period last year. Additionally, the company’s revenue saw a 10% year-on-year growth, reaching INR 37,218 crore compared to INR 33,892 crore in the June quarter of the previous fiscal year.
“We have started the FY25 with strong operating performance across all our businesses. Capitalising on leadership positions, Auto and Farm continued to expand market share and profit margins,” said Mahindra & Mahindra Managing Director and CEO Anish Shah.
Shah also highlighted the progress in other divisions. “Transformation at Mahindra & Mahindra Financial Services Limited (MMFSL) is yielding results as asset quality improves and transformation at TechM has commenced with margins as a key focus,” he added.
“With this momentum and relentless drive towards execution, we will continue to ‘deliver scale’ in FY25,” Shah said.
The company attributes its growth to strong performance across its various business sectors, especially in the Auto and Farm segments. This quarter’s numbers demonstrate significant improvements and strategic transformations contributing to the company’s overall financial health.
