M&M Q1 Results: Profit Misses Estimates On Higher Raw Material Costs

Mahindra & Mahindra Ltd's net profit fell in the first quarter of the fiscal year 2024-25, missing market expectations, due to the increased cost of raw materials.

India's largest sports utility vehicle maker posted a bottom line of 2,612.63 crore during the three months ended June, a fall of 5.3% from the year-ago period, according to its exchange notification on Wednesday. That compares with Rs 2,818.9 crore that analyst tracked by Bloomberg had estimated.

• Revenue up 11.2% to Rs 27,132.76 crore (Estimate: Rs 28,010.01 crore).

• Ebitda up 15.9% to Rs 4,116.19 crore (Estimate: Rs 3,848.3 crore).

• Margin expanded to 15.2% at 14.6% (Estimate: 13.70%).

• Net profit down 5.3% at Rs 2,612.63 crore (Estimate: Rs 2,818.9 crore).

One basis point is one-hundredth of a percentage point.

(This is a developing story).