Mahindra & Mahindra on Thursday reported a 34% year-on-year rise in consolidated net profit for the first quarter of the financial year 2027, driven by growth across its automotive, farm and services businesses.
Consolidated profit after tax rose to Rs 5,455 crore in the April-June quarter from Rs 4,083 crore a year earlier, while consolidated revenue increased 28% to Rs 58,188 crore from Rs 45,529 crore. The consolidated performance includes the group's automotive and farm equipment businesses, as well as services such as Tech Mahindra, Mahindra Financial Services, Mahindra Lifespaces and Club Mahindra.
The company said its auto and farm businesses continued to deliver growth and profitability, with combined profits rising 18% during the quarter. Mahindra Financial Services' assets under management grew 13%, while Tech Mahindra improved its EBIT margin by 330 basis points. Mahindra Logistics posted 23% revenue growth, with its profit after tax doubling.
The automotive business reported consolidated revenue of Rs 34,387 crore, up 32% from a year earlier, while consolidated profit after tax increased 21% to Rs 2,129 crore. Vehicle volumes rose 23% to 304,000 units, including sales by LMM and MEAL, while SUV volumes reached 175,000 units.
Mahindra retained the top position in the SUV segment with a 25% revenue market share and also remained the market leader in light commercial vehicles under 3.5 tonnes.
The farm equipment business posted consolidated revenue of Rs 12,501 crore, up 15%, while profit after tax rose 15% to Rs 1,520 crore. Tractor volumes increased 18% to 158,000 units, with market share improving to 44.9%.
Group Chief Executive Officer and Managing Director Anish Shah said the company delivered a strong start to the financial year despite macroeconomic headwinds, supported by its diversified portfolio and leadership in its auto and farm businesses.