Mahindra -; Mahindra reports 155% yoy growth in PAT to Rs1,353 crore for Q3FY22 on higher revenue

10 Feb 2022 , 04:52 PM

Mahindra & Mahindra Ltd. announced its results for the quarter and nine months ended December 2021 and has reported a significant growth during the quarter.

The company reported a standalone net profit of Rs1,353.07 crore, up by 154.88% yoy for the December 2021 quarter as against Rs530.86 crore in the previous corresponding quarter.

Revenue from operations for the December 2021 quarter stood at Rs15,238.82 crore, as against Rs14,056.54 crore in the previous corresponding quarter, reporting growth of 8.41% yoy. Its revenue for the 9M period ended December 2021 was reported at Rs40,307 crore against Rs31,236 crore for the corresponding 9M period.

The company’s consolidated profit for the quarter ended December 2021 jumped 57% yoy at Rs1,987 crore from Rs1,268 crore for the quarter ended December 2020. PAT for the 9 months ended December 2021 was reported at Rs3,974 crore as compared to Rs3,095 crore for the previous 9 months period.

EBIDTA for Q3FY22 skids by 24% yoy to Rs1,806 crore as against Rs2,386 crore for Q3FY21. Whereas, EBITDA for the 9M period ended December 2021 grew marginally by 2% at Rs5,097 crore against Rs5,016 crore for the previous 9-months period.

M&M’s sales witnessed a minor decline year-on-year (YoY). During the December 2021 quarter, it sold 1,18,174 vehicles and 91,769 tractors, down 2% and 9%, respectively.

The company stated that its growth momentum in the auto business continues on the back of a strong booking pipeline for its key models. It also recorded strong growth of 58.30% yoy in auto-export volumes.

M&M closed at Rs853, up by Rs12.80 or 1.52% as compared to its previous closing price of Rs840.20.