M&M Q1 net rises 67% to ₹1,430 cr. on auto, farm equipment

Revenue grew 67% to ₹19,613 crore 

Mahindra & Mahindra Ltd. reported first-quarter standalone net profit after exceptional item grew 67% to ₹1,430 crore following better performance by auto and farm-equipment divisions. 

Revenue grew 67% to ₹19,613 crore. 

On a consolidated basis, net profit grew more than fivefold to ₹2,196 crore. Consolidated revenue climbed 48% to ₹28,412 crore.

“Our performance this quarter is a reflection of the focus on delivering on our commitments to our stakeholders and customers,” Anish Shah, MD & CEO said. We saw good momentum across all our group companies, led by the strong results of the Auto and Farm sector.”

“We recorded our highest quarterly revenue for Auto and Farm segments and delivered robust operational and financial performance in Q1 FY23.,” Rajesh Jejurikar, ED, said 

“M&M continues to maintain its no.1 position in SUV revenue market share, while Farm Equipment Sector strengthened its leadership position with 42.7% tractor market share. With over 2,73,000 bookings, the demand for the automotive product portfolio remains strong. Following the blockbuster launch of Scorpio-N, we are excited about the next phase with the unveil of our Born Electric Vision later this month,” he added.