M&M's Q3 results: Net profit jumps 33% YoY to ₹3,931cr
What's the story
Mahindra and Mahindra (M&M) has reported a 32.6% year-on-year increase in its standalone net profit for the December quarter. The company's net profit stood at ₹3,931 crore, up from ₹2,964 crore in the same period last year. This was slightly above market expectations of ₹3,904 crore. M&M's standalone revenue from operations also grew by 26% to ₹38,517 crore during the period under review.
Financial metrics
EBITDA stands at ₹5,668cr
M&M's earnings before interest, tax, depreciation, and amortization (EBITDA) for the December quarter stood at ₹5,668 crore. This is a 27% increase from ₹4,468 crore in the same quarter last year. The EBITDA margin was reported at 14.7%, which is in line with market expectations and slightly higher than the 14.6% recorded in the corresponding period last year.
Market reaction
M&M's shares see slight dip
Following the announcement of its Q3 results, M&M's shares witnessed a slight dip of up to 2.5% from the day's high before recovering. The stock was trading at ₹3,673.85, up by 0.03% as of 1:19pm today. It has seen a growth of 17.62% over the last six months, indicating strong investor confidence in the company's financial performance and future prospects.