Mahindra & Mahindra (M&M) reported a 32.62% year-on-year (YoY) increase in its Q3FY26 standalone net profit at Rs 3,931.3 crore, from Rs 2,964.31 crore reported in Q3FY25.
The automaker’s revenue from operations stood at Rs 38,516.81 crore, up 26.13% YoY from Rs 30,538.23 crore reported in Q3FY25.
On a sequential basis, the company saw a decline in 13.03% in its net profit from Rs 4,520.52 crore reported in Q2FY26. Revenue also increased 15.25% quarter-on-quarter (QoQ) from Rs 33,421.6 crore reported in Q2FY26.
The company said growth was broad-based, with auto, farm and services businesses delivering solid operating performance during the quarter.
M&M’s automotive business remained the biggest contributor, with segment revenue climbing to Rs 28,361.48 crore from Rs 22,410.06 crore last year. The segment posted a profit of Rs 2,683.94 crore after exceptional items. Farm equipment revenue stood at Rs 10,199.6 crore.
New labour codes trigger Rs 293 crore exceptional loss
The company reported an exceptional item loss of Rs 292.94 crore during the quarter. “In accordance with the new Labour Codes, the Group has currently estimated the incremental impact on rctiral benefits to be Rs. 292.94 crores for the Group and Rs. 98.19 crores for the Company,” the company noted in its Q3 release.
While commenting on the Q3 Anish Shah, Group CEO & Managing Director, said, “Auto & Farm has maintained its leadership position on the back of steady customer demand,strong product acceptance and unwavering focus on operational excellence.”
“TechM continues to make meaningful progress. Mahindra Finance delivered another solid quarter with meaningful PAT growth while maintaining strong asset quality. We are especially pleased to see breakout performance from two of our growth gems, Mahindra Logistics and Mahindra Lifespaces,” Shah added.
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), said the company saw strong demand and positive response to new launches, including the XEV 9S and XUV 7XO.
Key highlights from Q3FY26
On the consolidated basis M&M reported a 46.97% YoY increase in its net profit at Rs 4,674.64 crore, from Rs 3,180.58 crore reported in Q3FY25. The company noted that excluding the labour code impact, the consolidated profit after tax (PAT) has risen 54%.
Consolidated revenue from operations stood at Rs 51,579.95 crore, up 24.39% YoY from Rs 41,464.98 crore reported in Q3FY25.
Mahindra & Mahindra share price
The share price of Mahindra & Mahindra gained nearly 1.28% in the intra-day trade on Wednesday. The stock has increased 17.23% in past six months.