New Delhi: On Saturday, Mahindra & Mahindra reported nearly five-fold jump in standalone profit at Rs 1,192 crore for its fourth quarter ended March 31, 2022. Notably, the company had posted a profit of ₹245 crore for the year-ago period, the company said in a statement.
Managing Director and CEO of Mahindra & Mahindra Anish shah said, “our performance in Q4 and FY22 underscores the resilience of our business model. Despite significant challenges due to various factors like Covid, commodity prices, semiconductor shortages and the Ukraine conflict, we have delivered strong results at the consolidated level. All of our group companies are well positioned to capitalize on growth opportunities.”
Executive Director of Mahindra & Mahindra said, “the company recorded its highest revenue for the auto and farm segment in FY22. M&M became No.1 in SUV revenue market share in Q4 and in the second half of FY22, while FES gained 180 basis points market share in FY22.”
The company revenue grew 28% to ₹17,124 crore in the period under review as compared with ₹13,356 crore in March quarter 2020-21. In full fiscal year 2021-22, the company logged a standalone profit of ₹4,935 crore, a multi-fold growth from ₹984 crore in fiscal year ended March 31, 2021, as per company said in a statement.
M & M said it achieved the highest ever standalone revenue for auto and farm segments at ₹55,300 crore for FY22, which is 29% higher than previous year’s. It also said the company’s auto business delivered highest ever quarterly UV (utility vehicle) volumes in Q4 with 42% year-on-year growth while farm equipment sector (FES) tractors market share for FY22 stood at 40%, a growth of 1.8% Y-o-Y. Auto export also saw strong performance in last fiscal year with 77 per cent growth year-on-year, it said, adding farm export volume at 17,500 tractors were highest in 2021-22 with 66 per cent growth.