Mahindra forecasts SUV growth and beats profit estimates
Mahindra beat profit estimates with 37.37 billion rupees. It expects mid-to-high teens SUV growth this fiscal year as demand for its vehicles remains strong.
MAHINDRA & MAHINDRA LTD expects SUV volume growth in the mid-to-high teens percentage range this fiscal year after beating quarterly profit estimates. The automaker outperformed domestic rivals through capacity expansions and tax-cut-driven demand in India. Strong SUV momentum positions the firm to capture a larger share of the shifting Indian passenger vehicle market.
### Capacity Expansion Drives Growth Outlook The automaker reported a standalone profit after tax of 37.37 billion rupees ($391.9 million) for the quarter ended March 31. This 53% increase from the previous year exceeded the 34.32 billion rupees projected by LSEG analysts. Revenue rose 26.2% to 395.54 billion rupees, also surpassing market expectations.
