M&M races to record revenue in Q3

Profit increases 47% to ₹4,675 cr

- SOHINI DAS

Mahindra & Mahindra (M&M) posted a 47 per cent year-on-year (Y-0-Y) rise in net profit for Q3FY26 to ₹4,675 crore, riding on the best ever quarterly revenue of ₹52,100 crore, up 26 per cent Y-0-Y.

Excluding the impact of the New Labour Codes (of around ₹565 crore), net profit was up 54 per cent, the company said.

M&M ranked no. 1 in revenue market share in SUVs with 24.1 per cent; no. 1 in light-commercial-vehicles (LCV) under 3.5 tonne with a market share of 51.9 per cent; and also topped in tractors with a 44 per cent share.

Apart from tractors (where market share was down 20 basis points or bps), M&M managed to gain market share in SUVs (up 90 bps) and LCVs (up 10 bps). In e three wheelers, too, M&M was at the top with a 38.6 per cent share of market.

M&M Financial Services profit after tax (PAT) was up 97 percent, while Tech Mahindra earnings before interest and taxes (Ebit) came in at 13.1 per cent. Q3FY26 was the first profitable quarter at Mahindra Logistics after 11 quarters and there was a 5x PAT growth at Mahindra Lifespaces.