Driven by an increase in volume in the automobile and farm segments, Indian automaker Mahindra & Mahindra (M&M) is expected to report strong revenue growth.
According to analysts, the company is expected to report an overall 12 per cent in volumes during the quarter.
“We expect M&M’s revenues to grow 17.5 per cent year-on-year, 12.6 per cent quarter-on-quarter at Rs 28,270 crore. The overall volumes for 1QFY25 increased by 12.6 per cent quarter-on-quarter, whereas the tractor volume increased by 69.5 per cent quarter-on-quarter,” stated YES Securities.
Analysts said the company saw a strong uptick in tractor volume growth during the quarter.
“We estimate a 14 per cent year-on-year increase in revenues in 1QFY25 led by 13 per cent year-on-year growth in tractor segment revenues and 15 per cent year-on-year increase in automotive segment revenues,” mentioned Kotak Equities.
Mahindra & Mahindra had reported a 4 per cent rise in consolidated net profit at ₹2,754 crore for the quarter that ended in March. The company’s revenue from operations increased by 9 per cent with ₹35,373 crore reported in the March quarter.