Mahindra & Mahindra Reports Strong Q1 Results: Auto and Farm Equipment Segments Shine

Team FS

31/Jul/2024

Key Points:

Mahindra & Mahindra's Auto segment saw a revenue increase of 13%, reaching ₹18,947 crore, with a 39% rise in EBIT to ₹1,798 crore.

The Farm Equipment segment experienced a 9% revenue growth, totaling ₹8,144 crore, and a 16% rise in EBIT to ₹1,506 crore.

Both segments demonstrated improved EBIT margins, with the Auto segment at 9.5% and the Farm Equipment segment at 18.5%.

Mahindra & Mahindra has reported impressive results for the first quarter of the fiscal year, showcasing significant growth across its Auto and Farm Equipment segments.

In the Auto segment, the company achieved a notable revenue increase of 13%, bringing the total to ₹18,947 crore compared to ₹16,754 crore in the same quarter of the previous year. This growth was accompanied by a substantial rise in EBIT, which surged by 39% to ₹1,798 crore, up from ₹1,292 crore year-over-year. The EBIT margin for this segment also improved to 9.5%, up from 7.7%, reflecting enhanced operational efficiency and profitability.

The Farm Equipment segment also delivered strong performance, with revenue up by 9% to ₹8,144 crore, compared to ₹7,456 crore in the previous year. The segment's EBIT grew by 16%, reaching ₹1,506 crore from ₹1,303 crore a year ago. This increase in profitability is mirrored by an improvement in the EBIT margin, which rose to 18.5% from 17.5%.

Overall, Mahindra & Mahindra's Q1 results underscore the company's robust performance and effective management across its key business segments. The growth in both revenue and EBIT, coupled with improved EBIT margins, highlights the company's successful strategy in driving operational efficiency and profitability.

Also Read : India's Retail Sector Sees Record Growth: Luxury Brands and Major Leases Dominate 2024

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Mahindra & Mahindra Reports Strong Q1 Results: Auto and Farm Equipment Segments Shine

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