Mahindra and Mahindra (M&M) M on Wednesday reported a 34 per cent year-on-year (Y-o-Y) rise in consolidated net profit to 2,658 crore (excluding previous year gains on Susten and trucks impairment) for the December quarter of 2023-24. Including the previous year's gains, the profit after tax (PAT) dipped 1 per cent. The consolidated revenues have also grown 15 per cent to touch 35,299 crore. The company’s stock gained close to one per cent on the BSE on Wednesday. M&M said the group delivered ‘solid’ operating performance across all business verticals except Tech Mahindra. The automotive business continues to gain market share, and the farm market share has improved despite a decline in the industry. Auto Q3FY24 volumes came in at 211,000 units, up 20 per cent, and the company achieved its highest ever utility vehicle volumes of 119,000 units.
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