India's Mahindra & Mahindra's quarterly profit rises almost 13% on healthy demand

Mahindra & Mahindra reported a 12.9% rise in quarterly profit, supported by strong demand for its higher-margin sport-utility vehicles as raw material costs climbed. For the quarter ended September 30, 2026, the Indian automaker posted profit after tax of 51.02 billion rupees (about $539.85 million), up from 45.21 billion rupees a year earlier. The company noted that passenger vehicle demand has stayed steady after India’s consumption tax cuts in September. Mahindra raised SUV prices by an average of 2.7% and commercial vehicle prices by 2% in July, and total auto volumes increased 26% over the three months. Revenue rose to 424.77 billion rupees.