Mahindra & Mahindra Posts Impressive 38.54% Profit Growth in Third Quarter
Mahindra & Mahindra Ltd (M&M) has announced a substantial increase in its consolidated profit after tax (PAT) for the third quarter ended December 31, 2025. The company reported a PAT of ₹5,021.47 crore, marking a significant 38.54% jump compared to the ₹3,624.48 crore recorded in the same period last year. This robust financial performance was primarily fueled by strong showings in both the automotive and farm equipment sectors.
Revenue Milestone and Operational Highlights
Consolidated revenue from operations during the quarter reached ₹51,579.95 crore, up from ₹41,464.98 crore in the year-ago period. Notably, this is the first time in the company's history that consolidated revenue has surpassed the ₹50,000 crore mark, underscoring its growth trajectory. Total expenses for the quarter were higher at ₹41,464.98 crore, compared to ₹37,096.65 crore in the corresponding quarter of the previous fiscal year.
The group incurred an exceptional outgo of ₹292.94 crore during the quarter, attributed to the implementation of the new Labour Codes, as detailed in the regulatory filing. Despite this, the overall financial health remained strong.
Segment-Wise Performance and Volume Growth
The automotive segment demonstrated remarkable volume growth, with quarterly sales reaching 3.02 lakh units, representing a 23% increase from the same period last fiscal year. Similarly, the farm equipment sector posted a volume of 1.5 lakh units, also growing by 23% year-over-year. This dual-sector strength has been a key driver of M&M's financial success.
Rajesh Jejurikar, Executive Director & CEO of the Auto and Farm Sector, highlighted specific achievements: "We have achieved a 90 basis points year-on-year increase in SUV revenue share and a 10 basis points year-on-year increase in LCV (less than 3.5 tonnes) market share in Q3." He added that the tractor business gained 20 basis points year-on-year, reaching a 44.1% share for the year-to-date in FY26.
Leadership Insights and Future Outlook
Anish Shah, Group CEO & Managing Director of M&M, commented on the quarter's performance: "A solid operating performance across the group in Q3 FY26 reflected the group's strong focus on growth coupled with disciplined execution. Auto & farm has maintained its leadership position on the back of steady customer demand, strong product acceptance, and unwavering focus on operational excellence."
Shah also noted that TechM continues to make meaningful progress, while Mahindra Finance delivered another solid quarter with significant PAT growth and maintained strong asset quality. He expressed particular satisfaction with the breakout performance from growth gems like Mahindra Logistics and Mahindra Lifespaces.
The company's ability to leverage its diversified portfolio and operational efficiency has positioned it well for sustained growth in the competitive market landscape.
