Mahindra and Mahindra This fall Profit Zooms Five-Fold to Rs 1,192 Crore

Mumbai: Mahindra & Mahindra on Saturday reported practically five-fold leap in standalone revenue at Rs 1,192 crore for quarter ended March 31, 2022. The firm had posted a revenue of Rs 245 crore for the year-ago interval, it stated in an announcement .

Revenue grew 28 per cent to Rs 17,124 crore within the interval beneath evaluation as in contrast with Rs 13,356 crore in March quarter 2020-21, it stated. In full fiscal yr 2021-22, the corporate logged a standalone revenue of Rs 4,935 crore, a multi-fold development from Rs 984 crore in fiscal yr ended March 31, 2021.

M&M stated it achieved the very best ever standalone income for auto and farm segments at Rs 55,300 crore for FY22, which is 29 per cent increased than earlier yr’s. It additionally stated the corporate’s auto enterprise delivered highest ever quarterly UV (utility automobile) volumes in This fall with 42 per cent year-on-year development whereas Farm Equipment Sector (FES) tractors market share for FY22 stood at 40 per cent, a development of 1.8 per cent YoY.

Auto export additionally noticed robust efficiency within the final fiscal yr with 77 per cent development YoY, it stated, including farm export quantity at 17,500 tractors had been highest in FY22 with 66 per cent development. The semiconductor provides improved in This fall leading to highest ever quarterly UV volumes, it acknowledged.

Our efficiency in This fall and FY22 underscores the resilience of our enterprise mannequin. Despite vital challenges because of varied components like Covid, commodity costs, semiconductor shortages and the Ukraine battle, we now have delivered robust outcomes on the consolidated degree. All of our group firms are properly positioned to capitalize on development alternatives, stated Anish Shah, Managing Director & CEO, M&M. The firm recorded its highest income for the auto and farm phase in FY22. M&M grew to become No.1 in SUV income market share in This fall and within the second half of FY22, whereas FES gained 180 foundation factors market share in FY22, stated Rajesh Jejurikar, Executive Director, M&M.

With over 170k bookings, the demand for the automotive product portfolio stays robust. FES delivered second highest full yr PBIT (revenue earlier than curiosity and tax) regardless of market slowdown and steep commodity inflation. Given the current fiscal and financial measures by Government of India and RBI, we foresee the price pressures within the financial system to ease out, he added. Our give attention to capital allocation and improved monetary metrics proceed to ship outcomes. We proceed on our journey in direction of 18 per cent RoE (return on fairness) , stated Manoj Bhat, Group Chief Financial Officer, M&M.

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