MUMBAI: The homegrown automaker Mahindra & Mahindra has reported a marginal 5.3 percent year-on-year fall in standalone net in the June quarter at Rs 2,613 crore despite a healthy topline growth and robust margins. In the June 2023 quarter, M&M’s standalone profit had nearly doubled to Rs 2,759 crore, boosted by a one-time gain of over Rs 405 crore. In sub-3.5 tonne light commercial vehicles and e-three wheelers space, the company registered a market share of 50.9 percent and 43.4 percent, respectively. The company refused to share volume market share for these segments. "Capitalising on leadership position, auto and farm businesses continued to expand market share and profit margins.

Source: Indian Express July 31, 2024 12:52 UTC