M&M Q3 Results: Profit Jumps 61% As SUV Sales Surge To Highest Ever

Mahindra & Mahindra Ltd.'s income increased in the third quarter of fiscal 2024, even as earnings met estimates.

• ⁠Highest ever Q3 volumes at 211,000, up 20% YoY

• ⁠Highest ever utility-vehicle volumes at 119,000

• ⁠Open bookings of SUVs at 226,000, as on Feb. 1

• At 21%, M&M enjoys highest revenue market share in SUV segment

• ⁠M&M’s LCV market share at 49.6%, up 310 bps year-on-year

• ⁠In tractors, M&M’s market share was at 41.8% in Q3, up 80 bps YoY

• M&M's electric three-wheeler volumes rose 54% YoY

• M&M is the market leader in E3W with 54% market share

• Mahindra Lifespaces clocks residential pre-sales of Rs 433 crore

• Club Mahindra’s total income up 8% year-on-year at Rs 363 crore

• Mahindra Logistics revenue up 5% year-on-year at Rs 1,397 crore

• India’s largest renewables InvIT listing completed in Jan. 24