Mahindra and Mahindra reported its September quarter results on Thursday (November 7, 2024). For the reporting quarter, the auto major's consolidated PAT increased 35 per cent on-year to Rs 3,171 crore. The company said it reported strong growth across businesses during the review quarter. 

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In the previous year's same quarter, the consolidated PAT stood at Rs 2,348 crore. Zee Business research anticipated standalone profit at the company to decrease marginally by 0.1 per cent to Rs 3,450 crore. 

Revenue at the company, during the quarter under review, increased 10 per cent from Rs 34,436 crore reported in Q2FY24 to Rs 37,924 crore clocked in the just ended quarter.

Auto and Farm delivered robust operating results with profits up 23 per cent. Financial services AUM grew at 20 per cent, added the company's press release.

The release added that in the auto segment the company clocked the highest-ever volumes quarterly at 2,31,000, up 9 per cent, with the highest ever quarterly utility vehicle (UV) volumes at 1,36,000.

The company's SUV segment emerged as the leader with revenue market share at 21.9 per cent, up 190 bps, while volume in the segment rose 18 per cent during the quarter. Furthermore, the PBIT margin expanded to 9.5 per cent, up 140 basis points on-year.

Commenting on Q2 FY25 performance Dr. Anish Shah, Managing Director & CEO, M&M Ltd. said, “Our businesses have delivered a solid operating performance this quarter. Auto and Farm continued to strengthen market leadership by gaining market share and expanding margins. MMFSL GS3 remained under 4% (at 3.8%) and end losses have improved structurally. TechM delivered a good quarter and the long-term focus remains on reverting to past profitability. Our growth gems are progressing well on the 5x challenge.” 

After the company's earnings, the stock traded lower by 0.74 per cent or Rs 21.75 per share at Rs 2,912.95 apiece on the BSE.