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Mahindra & Mahindra quarterly profit up almost 13% on steady demand

Mahindra & Mahindra reported a 12.9% rise in quarterly profit as demand for its SUVs offset higher raw material costs, according to Reuters.

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what happened

Indian carmaker Mahindra & Mahindra reported a 12.9% jump in quarterly profit on Thursday. Demand for its high-margin sport utility vehicles helped it absorb the impact of rising raw material prices. Profit after tax for the quarter ended September 30, 2026 came to 51.02 billion rupees ($539.85 million), up from 45.21 billion rupees a year earlier. Revenue rose to 424.77 billion rupees from 334.22 billion rupees. In July the company raised SUV prices by an average of 2.7% and commercial vehicle prices by 2%, in line with peers. Reuters reported that total auto volumes grew 26% over the three months.

why it matters

The results suggest that consumption tax cuts introduced last September are still supporting passenger vehicle demand in India. Higher volumes and price increases let automakers partly offset costlier materials. Investors will also watch Mahindra's electric vehicle unit, which is emerging as a growth driver. Exchange rate: $1 = 94.5075 Indian rupees.

market impact

Mahindra & Mahindra shares: strong demand and sales growth support the company's earnings outlook.

  • Mahindra & Mahindra shares pressure up — profit growth and a 26% rise in auto volumes on steady SUV demand

tags

EarningsStockIndia

instruments

Mahindra & MahindraUSD/INRIndian auto sector

sources

  1. India's Mahindra & Mahindra's quarterly profit rises on healthy demand — Reuters, 5 November 2026 at 07:31 UTC
  2. India's Mahindra & Mahindra's quarterly profit rises almost 13% on healthy demand — Reuters, 5 November 2026 at 07:44 UTC
  3. India's Mahindra & Mahindra up after quarterly profit rise, steady SUV demand — Reuters, 6 November 2026 at 03:53 UTC
  4. India's Mahindra & Mahindra up on quarterly profit rise, steady SUV demand — Reuters, 6 November 2026 at 04:23 UTC

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