M&M’s Q1FY25 Quarter Results
- 02 Aug 2024
- M&M reported a 5% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed a growth of 8%.
- Its expenses for the quarter were up by 4% QoQ and 9% YoY.
- The net profit grew 13% QoQ and reduced 4% YoY.
- The earnings per share (EPS) of M&M stood at 29.3 during Q1FY25.
M&M’s Financial Statements for Q1FY25:
| (Rs crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 34,699 | 35,807 | 37,626 | 5% | 8% |
Total expenses | 30,492 | 32,172 | 33,330 | 4% | 9% |
Profit before tax | 4,468 | 4,030 | 4,621 | 15% | 3% |
Tax | 784 | 905 | 1,075 | 19% | 37% |
Profit after tax | 3,684 | 3,125 | 3,546 | 13% | -4% |
Earnings per share | 31.4 | 24.6 | 29.3 |
Financials:
- Revenue: Revenue increased by 10% YoY to ₹37,626 crores, up from ₹34,699 crores in Q1FY24.
- Net Profit: M&M reported a 4% YoY drop in consolidated net profit, at ₹3,546 crores for Q1FY25, compared to ₹3,684 crores in Q1FY24.
- One-Time Gains Exclusion: The previous year's quarter included one-time gains from KG Mobility (₹405 crores) and the MCIE stake sale (₹358 crores).
- Earning per share: ₹29.3, up from ₹24.6 QoQ.
Management Commentary:
Dr Anish Shah, Managing Director & CEO of M&M Ltd, said,
“We have started the F25 fiscal year with strong operating performance across all our businesses. Capitalising on leadership positions, Auto and Farm continued to expand market share and profit margins. Transformation at MMFSL is yielding results as asset quality improves, and transformation at TechM has commenced with margins as a key focus. With this momentum and relentless drive towards execution, we will continue to ‘deliver scale’ in F25.”
Mr. Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M Ltd. said,
“In Q1 F25, we gained market share in both Auto & Farm businesses. We achieved the highest-ever quarterly tractor volumes and also improved our Core Tractors PBIT margin by 110 bps YoY. We retained market leadership in SUVs with 21.6% revenue market share and in LCVs < 3.5T, we crossed 50.9% volume market share. Auto Standalone PBIT grew by 39% with a margin improvement of 180 bps YoY.”
Mr. Amarjyoti Barua, Group Chief Financial Officer, M&M Ltd., said,
“We delivered robust margin expansion across our businesses through focused execution. We continue to meet our external commitments. We have also commenced on our capital investment plans in line with what we communicated in May’24.”
Data Source: BSE, Company announcements
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