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Mahindra & Mahindra posts 34 per cent rise in Q1 profit
Revenue tops Rs 59,200 crore as farm and auto businesses fuel growth
MUMBAI: Mahindra & Mahindra has shifted into a higher gear, with every major engine of its business firing in sync. The diversified conglomerate kicked off FY27 with a robust set of numbers, reporting double-digit growth in revenue and profit as strong performances across its automotive, farm equipment and services businesses powered earnings higher.
For the quarter ended 30 June 2026, the company reported total income of Rs 59,203.60 crore, up 27.5 per cent from Rs 46,446.11 crore in the corresponding quarter last year.
Revenue from operations rose 26.6 per cent to Rs 57,533.44 crore, compared with Rs 45,435.88 crore a year earlier. Including investment income related to subsidiaries, associates and joint ventures, income from operations stood at Rs 58,187.57 crore.
Profit before tax climbed to Rs 7,628.09 crore, marking an increase of 35.2 per cent from Rs 5,644.11 crore in the year-ago quarter.
After a tax outgo of Rs 1,630.53 crore, profit after tax rose 37.0 per cent to Rs 5,997.56 crore, compared with Rs 4,376.58 crore in the first quarter of FY26.
Profit attributable to the company’s shareholders increased to Rs 5,454.54 crore, up from Rs 4,083.32 crore a year earlier, while basic earnings per share improved to Rs 48.80 from Rs 36.58.
The group’s total comprehensive income reached Rs 6,060.94 crore, compared with Rs 4,631.48 crore in the corresponding quarter last year.
Growth was broad-based across the company’s businesses. The automotive segment remained the largest contributor, generating Rs 34,387.25 crore in revenue, while the farm equipment business reported Rs 12,500.77 crore, reflecting a strong recovery from Rs 10,891.56 crore in the year-ago quarter.
The financial services business contributed Rs 5,697.83 crore, while the industrial businesses and consumer services segment recorded revenue of Rs 7,200.72 crore, highlighting the diversified nature of the group’s earnings.
Operating costs also increased alongside higher business activity. Total expenses rose to Rs 51,943 crore from Rs 41,280.14 crore a year earlier, driven by higher raw material costs, employee expenses and other operating expenditure.
The cost of materials consumed increased to Rs 33,229.35 crore from Rs 26,710.64 crore, while employee benefit expenses rose to Rs 3,388.33 crore, compared with Rs 3,044.52 crore in the corresponding quarter last year.
The company also benefited from a net share of profit from associates and joint ventures of Rs 367.49 crore, although this was lower than Rs 478.14 crore reported a year ago.
The quarter’s performance underlines the strength of Mahindra & Mahindra’s diversified business model. With robust growth across automobiles, tractors, financial services and industrial businesses, the group has entered FY27 on solid footing, demonstrating that multiple growth engines—not just one flagship business are driving its earnings momentum.
