Mahindra & Mahindra's Q1 Profits Surge Amid Broad-Based Growth

Mahindra & Mahindra reported a 24% increase in net profit to Rs 4,083 crore for the June quarter, with significant growth across its business segments. The Mumbai-based company experienced rises in both auto and farm sectors, along with impressive strides in financial services and Mahindra Logistics.

Mahindra & Mahindra announced a substantial 24% year-on-year surge in its consolidated net profit to Rs 4,083 crore for the June quarter, largely attributed to extensive growth across different business areas.

Compared to the previous fiscal's net profit of Rs 3,283 crore, the company saw total income from operations rise significantly to Rs 45,529 crore. The auto and farm business sectors notably contributed to this growth, with a robust 20% profit increase.

Additionally, Mahindra's financial services assets under management improved by 15%, while Tech Mahindra advanced in margin expansion. With a 14% revenue jump in Mahindra Logistics and a 10% increase in Mahindra Holidays' room inventory, the diverse company solidified its growth trajectory.

(With inputs from agencies.)