SUV sales drive M&M profit to beat estimates
Business Standard|May 17, 2024
Mahindra and Mahindra (M&M) has reported a 4 per cent jump in consolidated net profit for the fourth quarter of the 2023-24, riding on a 9 per cent year-on-year (Y-o-Y) growth in revenue to ₹35,452 crore.
SOHINI DAS
SUV sales drive M&M profit to beat estimates

The firm's consolidated profit after tax (PAT) or consolidated net profit was at ₹2,754 crore in the March quarter, up from ₹2,637 crore in the same quarter of financial year (FY) 2023.

For the full year, the revenue grew by 15 per cent to 1.39 trillion and the PAT grew by 10 per cent to ₹11,269 crore.

If the previous year gains from Swaraj Engines (SEL) and Susten (renewable energy firm) and net of the impairment from the trucks business are excluded, the PAT has risen by 25 per cent.

M&M stocks rose 3.05 per cent to ₹2,372.85 apiece on the BSE as the company beat estimates.

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