Mahindra & Mahindra Q3 Results FY2023, Net profit at Rs. 2677 crores
On 10th February, Mahindra & Mahindra announced its results for the third quarter of FY2023.
Key Highlights:
- The company reported revenue at Rs. 30620 crores
- Profit before tax stood at Rs. 3731.71 crores.
- The company reported a net profit of Rs. 2677 crores.
Business Highlights:
- M&M's operating margin stood at 13.0%, up by 130 bps YoY
- Vehicle sales went up by 45% YoY
- M&M remains the market leader in SUVs for 4 consecutive quarters
- LCV 2-3.5T’s consolidated market leadership stood at 60.1% market share in Q3 FY23
- Electric 3-wheelers achieved highest ever quarterly billing of 11,801 units
- Farm Equipment Market Share reported at 41.4%, a gain of 90 bps
Commenting on Q3 FY23 performance Dr. Anish Shah, Managing Director & CEO, M&M Ltd, said, “We have had another robust quarter led by the robust performance of our Auto division. Our farm division also reported healthy growth with increased market share. Our capital allocation actions are continuing to show results and we remain committed to our journey of growth and returns.”
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