Mahindra & Mahindra Q2 profit rises 25% to ₹4,588 crore

Mahindra & Mahindra reported a 25% rise in consolidated profit for the quarter ended September 30, 2026, as higher vehicle sales and automotive earnings outweighed a decline in tractor sales. Consolidated profit after tax was ₹4,588 crore, compared with ₹3,673 crore a year earlier, while revenue from operations rose 25% to ₹57,553 crore from ₹46,106 crore. The company sold 330,896 vehicles during the quarter, up 26% year on year, while tractor sales fell 6% to 116,027 units. The contrast reflected stronger activity in the automotive business and weaker results in the farm equipment segment. Automotive revenue increased 39% to ₹37,756 crore, and the division’s consolidated profit after tax rose 55% to ₹2,388 crore. Mahindra & Mahindra reported utility vehicle volumes of about 183,000 units. Its SUV revenue market share was 24.3%, while electric SUVs accounted for a 30.1% revenue market share. Farm equipment revenue declined 6% to ₹9,572 crore, and the segment’s consolidated profit after tax fell 9% to ₹1,053 crore. The company said the farm business experienced a decline partly because of a shift in the festive season. Tractor volumes were lower than the 122,936 units sold in...