M&M Q2 results: Net profit rises 35% to ₹3,171 crore, revenue up 10% YoY

Mahindra & Mahindra Ltd (M&M) on Thursday, November 7 reported a 35% year-on-year (YoY) jump in its consolidated net profit to ₹3,171 crore for the second quarter of FY25. The figure stood at ₹2,348 crore in the corresponding quarter last year.

Meanwhile, the auto major's consolidated revenue from operations grew 10% YoY to ₹37,689 crore in Q2 FY24 from ₹34,281 crore in Q2 FY24.

On a standalone basis, net profit stood at ₹3,840.88 crore for the said quarter, registering a growth of 13.2% from ₹3,393.06 crore in the same quarter last fiscal year. Revenue from operations in Q2 FY25 increased by 12% YoY to ₹12% YoY to ₹28,919 crore.

M&M said its automobile segment recorded the highest-ever quarterly volumes at 2,31,038 units in the quarter ended September 2024, up 9% YoY. M&M tractor sales during the quarter rose 4% YoY to 92,382 units. The Farm Equipment Segment of M&M saw the highest-ever Q2 market share at 42.5%.

At the operational level, earnings before interest, taxes, depreciation and amortization (EBITDA) during the September quarter increased by 30% to ₹3,908 crore from ₹2,993 crore, while the EBITDA margin improved by 190 basis points (bps) to 14.2% from 12.3%, YoY.

“In Q2 FY25, we gained market share across both our Auto and Tractor businesses. SUV volumes increased by 18% YoY, maintaining leadership in revenue market share, with an increase of 190 bps YoY on the back of two successful launches. Volume market share for LCVs <3.5T stands at 52.3%, a rise of 260 bps YoY. The auto standalone PBIT margin was 9.5%, a gain of 140 bps YoY (excl. PY gain on LMM transfer),” said Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd.

Automobile Segment

Mahindra’s Auto segment revenue in Q2 FY25 grew 14% to ₹21,110.28 crore from ₹18,514.74 crore, YoY. The segment’s EBIT increased by 17.37% to ₹2,005.98 crore from ₹1,709.08 crore.

Farm Equipment Segment

The Farm Equipment Segment of M&M reported a revenue growth of 9.75% to ₹6,496.81 crore in the quarter ended September 2024 as against ₹5,919.51 crore in the year-ago period.

The segment’s EBIT in Q2 FY25 jumped 20% to ₹1,136.22 crore from ₹946.33 crore YoY.

At 12:25 pm, M&M shares were trading 0.56% lower at ₹2,918.25 apiece on the BSE.