Strong growth across automotive, farm, and financial services businesses
Mahindra & Mahindra Ltd (M&M) reported a robust performance for the December quarter, posting a sharp rise in profit and crossing a key revenue milestone for the first time in its history.
The company’s consolidated profit after tax (PAT) rose 38.54% year-on-year to ₹5,021.47 crore for the quarter ended December 31, 2025, compared with ₹3,624.48 crore in the same period last year.
Consolidated Revenue Surges Past ₹50,000 Crore Mark
M&M’s consolidated revenue from operations climbed to ₹51,579.95 crore in Q3, up from ₹41,464.98 crore a year earlier. This marks the first time the group has crossed the ₹50,000 crore revenue milestone on a consolidated basis.
Total expenses during the quarter increased to ₹41,464.98 crore, compared with ₹37,096.65 crore in the year-ago period. The company also recorded an exceptional expense of ₹292.94 crore related to the implementation of new Labour Codes.
Automotive and Farm Segments Drive Volume Growth
M&M’s core automotive business delivered strong volume growth during the quarter. Automotive volumes stood at 3.02 lakh units, representing a 23% increase compared with the same quarter last year.
The farm equipment segment also posted healthy growth, with volumes reaching 1.5 lakh units, up 23% year-on-year, supported by steady rural demand and improved market conditions.
Group Businesses Post Improved Profitability
Commenting on the results, Group CEO and Managing Director Anish Shah said M&M delivered a solid operating performance across businesses in Q3 FY26, reflecting a focus on growth and disciplined execution.
Mahindra Finance reported meaningful growth in PAT while maintaining asset quality. Mahindra Logistics posted its first profitable quarter after 11 quarters, while Mahindra Lifespaces recorded a five-fold increase in profit during the period.
The group also announced the launch of Signature Luxury Resorts under Mahindra Holidays, expanding its presence in the premium hospitality segment.
M&M Shares Steady After Results
Shares of Mahindra & Mahindra were trading largely flat following the earnings announcement. At the latest check, the stock was up 0.01% at ₹3,675.65, indicating a muted market reaction despite the strong quarterly performance.
