Brands
Mahindra & Mahindra Q3 profit jumps 47 per cent
Revenue rises 26 per cent as autos, farm and services perform
MUMBAI: Mahindra & Mahindra Limited reported a sharp rise in third-quarter earnings, driven by strong performance in its automotive, farm and services businesses.
Consolidated net profit rose 47 per cent year on year to Rs 4,675 crore in the quarter ended December 31, 2025, while revenue from operations increased 26 per cent to Rs 52,100 crore, the company said in a stock exchange filing. Excluding the impact of labour code regulation changes, profit after tax rose 54 per cent on year. Consolidated Pat margin improved to 9 per cent from 7.7 per cent a year earlier.
For the nine months ended December, consolidated Pat stood at Rs 12,431 crore, compared with Rs 9,634 crore in the corresponding period last year.
Shares of Mahindra & Mahindra were trading at Rs 3,697.50, up 0.59 per cent on the day, after paring earlier intraday gains of nearly 3 per cent following the results announcement.
The automotive segment posted consolidated revenue of Rs 30,370 crore in Q3 FY26, up 30 per cent year on year, with Pat rising 42 per cent to Rs 1,993 crore. Quarterly volumes climbed 23 per cent to 3.02 lakh vehicles, including 1.79 lakh utility vehicles. The company retained leadership in SUVs with a revenue market share of 24.1 per cent, up 90 basis points, while light commercial vehicle market share rose to 51.9 per cent.
The farm equipment business reported revenue of Rs 11,501 crore, up 21 per cent, while Pat rose 7 per cent to Rs 1,044 crore. Tractor volumes increased 23 per cent to 1.50 lakh units, though market share eased 20 basis points to 44.0 per cent.
The services segment continued to gain traction, delivering revenue of Rs 11,636 crore, up 21 per cent, with Pat doubling to Rs 1,637 crore. Mahindra Finance reported a 97 per cent rise in Pat, with gross stage-3 assets below 4 per cent. Tech Mahindra’s Ebit margin improved to 13.1 per cent, up 290 basis points. Mahindra Logistics returned to profitability after 11 quarters, while Mahindra Lifespaces posted a five-fold increase in profit.
Group return on equity stood at 20.1 per cent on an annualised basis.
Group CEO and managing director Anish Shah said the company delivered solid operating performance across the group in the December quarter, while group CFO Amarjyoti Barua pointed to the growing contribution from services businesses.
Brands
Myntra revives ‘Fashion ki Adalat’ to put social judgments on trial for International Women’s Day
Courtroom satire stars Lisa Ray and Archana Puran Singh
NATIONAL: Ahead of International Women’s Day, fashion e-commerce platform Myntra has revived its social campaign Fashion ki Adalat, expanding the idea of societal judgment beyond clothing choices.
The latest instalment of the campaign features actor and model Lisa Ray in a satirical courtroom drama that puts everyday scrutiny of women’s choices on trial. Veteran actor Archana Puran Singh reprises her role as the presiding judge, delivering the verdict in a humorous yet pointed narrative.
Set inside a stylised courtroom, the campaign frames the case as “Society vs Her Choices,” turning familiar criticisms into formal accusations. Through humour and satire, the film examines how women’s decisions, ranging from fashion and career to marriage and identity, are frequently judged across different stages of life.
The narrative traces three phases of Lisa Ray’s life. At 18, her independence is framed as defiance. Later, after marriage, her decision not to change her surname is questioned. In midlife, her ambition and bold self-expression are again scrutinised. Each moment is met with sharp retorts that challenge social expectations and reinforce the campaign’s central message: personal expression should not be subject to public approval.
With Fashion ki Adalat 2.0, Myntra is attempting to broaden last year’s conversation from defending individual fashion choices to questioning the impulse to judge them altogether.
“Self-expression is often met with unsolicited scrutiny,” said Myntra head of social media marketing and creator ecosystem Monalisa Panda. “Through this campaign we wanted to spotlight that reality and celebrate individuality across life stages.”
Created and produced by Ideaz Farm, the film was directed by Yash Danak, with creative direction by Katya Mohan and Rishi P Ekta Taak and Prasanna Shetty served as producers, while P Kalyani Sunil handled cinematography.
The campaign forms part of Myntra’s wider push to position fashion and beauty as tools of personal identity and self-expression for younger consumers across India.
