Mahindra & Mahindra reported a significant 33% rise in third-quarter profit, reaching 39.31 billion rupees, fueled by robust demand in its automotive and farm equipment segments. However, the result narrowly missed analyst expectations. The company's standalone revenue from operations grew 26% to 38,516.8 crore rupees, with SUV market share increasing to 24.1%.
Ashok Leyland's quarterly performance showed a modest 4.5% profit increase to 7.96 billion rupees, falling short of forecasts as higher raw material expenses impacted margins. Revenue climbed 21.7% to 115.34 billion rupees, supported by stronger volumes across commercial vehicle categories.
Divi's Laboratories experienced a slight decline in net profit to 583 crore rupees despite a 12% rise in total income to 2,692 crore rupees. All three companies absorbed exceptional charges related to India's recently implemented labor regulations.
The broader earnings landscape saw notable movements from other major firms. Titan Company announced a sharp 61% jump in net profit to 1,684 crore rupees, while Grasim Industries reported record consolidated revenue of 44,312 crore rupees, marking a 25% year-over-year increase.
Market observers are closely monitoring whether consumption benefits from September's GST reduction continue to support sales, particularly in the automotive sector which serves as a key demand indicator. Over 100 companies were scheduled to report December-quarter results on Wednesday.
While manufacturers navigate persistent input cost pressures, analysts highlight margin resilience and cost management as critical factors for ongoing performance assessment. The sustainability of demand growth remains contingent on pricing dynamics and rural purchasing power.