M&M reported its June quarter numbers on the afternoon of July 31.

What Happened: Mahindra and Mahindra saw its net profit fall 5.31% to ₹2,612.63 crore from ₹2,759.43 crore in the previous year. Its sales were up 12% year on year to ₹27,038.79 crore from ₹24,137.19 crore in the corresponding quarter of the previous year.

Both the numbers missed the analyst expectation of ₹2,731.1 crore net profit and ₹27,870 crore revenue.

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EBITDA for the review quarter increased by 22% from the year-ago quarter to ₹4,023 crore. The EBITDA margin for the quarter expanded by 120 basis points year-on-year to 14.9%, surpassing the anticipated 13.8%. This rise in EBITDA margin was attributed to a favourable product mix.

In the quarter, the company recorded the highest-ever Q1 volumes in the auto segment with 2.12 lakh units, a year-on-year increase of 14% and highest highest-ever Q1 utility vehicle volume at 1.24 lakh. The revenue from the automotive segment increased to ₹19,776 crore from ₹16,999 crore in the previous year.

The farm segment also saw highest highest-ever quarterly volumes at 1.2 lakh which was up 5%. The farm segment revenue was flat at ₹9,711 crore in this quarter from ₹9,710 crore in the previous year.

Price Action: Shares of Mahindra and Mahindra rose 0.84% to 2,946.50 after the results came out.

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