Mahindra & Mahindra also reported a revenue of ₹ 17,124 crores in Q4 FY2022, which was 28 per cent higher than the Q4 revenues of FY2021. The profit after taxes (before exceptional items) also saw 17 per cent YoY increment, and went up from ₹ 998 crores to ₹ 1,167 crores. As for FY2022, Mahindra & Mahindra saw a YoY revenue growth of 29 per cent, with revenues going up to ₹ 57,466 crores generating a profit after tax (before exceptional items) of ₹ 5,144 crores, a figure that saw a 26 per cent growth over FY2021.
Commenting on the performance in FY2022, Anish Shah, Managing Director & CEO, M&M Ltd, said, “Our performance in Q4 and FY22 underscores the resilience of our business model. Despite significant challenges due to various factors like Covid, Commodity prices, semiconductor shortages and the Ukraine conflict, we have delivered strong results at the consolidated level”.
“We recorded our highest revenue for Auto and Farm segment in FY22. M&M became No.1 in SUV Revenue Market Share in Q4 and H2 FY22, while FES gained 180 basis points market share in FY22. With 170k+ bookings, the demand for the automotive product portfolio remains strong”, Rajesh Jejurikar, Executive Director, M&M Ltd added.
Mahindra passenger vehicles sold 1,52,204 vehicles in Q4 FY2022, which was 43 percent higher than the sales in Q4 FY2021, as the sales figures are recovering from the global pandemic. The sale of tractors however, saw a decline in Q4 FY2022 with the figures dropping by 23 per cent over Q4 FY2021 down to 72,058 units sold in Q4 FY2022, bringing the total units sold by the group up to 2,24,262 units in Q4 FY2022. Over the course of FY2022, Mahindra’s passenger vehicles division sold 4,55,570 units, which was 31 per cent higher than the 3,48,621 units sold in FY2021. The sale of tractors saw a marginal decline, with 3,50,981 units sold in FY2022, as opposed to 3,51,431 units sold in FY2021. Mahindra Automotive also has over 1.70 lakh open bookings, with XUV700 leading the way at over 78,000 open bookings.
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