Farm equipment business, which contributed 28 percent to revenue, reported healthy 41.8 percent growth year-on-year at Rs 3,716 crore.
Mahindra & Mahindra share price gained more than 2 percent intraday on Tuesday after strong auto and tractor businesses helped the company report better-than-expected earnings for March quarter.
Profit during the quarter grew by 50 percent year-on-year to Rs 1,155 crore and revenue from operations jumped 25.6 percent to Rs 13,189 crore.
EBITDA (earnings before interest, tax, depreciation and amortisation) shot up 70.4 percent to Rs 1,995 crore and margin expanded 400 basis points to 15.1 percent compared to same quarter last year.
Farm equipment business, which contributed 28 percent to revenue, reported healthy 41.8 percent growth year-on-year at Rs 3,716 crore with its EBIT (earnings before interest and tax) growing 55 percent to Rs 723.4 crore and margin expanding 170 basis points to 19.5 percent for the quarter ended March 2018.
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Automotive segment revenue during the quarter grew by 19.6 percent to Rs 9,105 crore with EBIT rising 77.9 percent to Rs 971.3 crore and margin rising 350 basis points to 10.7 percent compared to corresponding period last fiscal.
The growth in profitability was despite fall in other income.
Other income fell 44 percent year-on-year to Rs 166 crore and one-time gain for the quarter stood at Rs 48 crore against Rs 94 crore in year-ago.
At 14:02 hours IST, the stock price was quoting at Rs 862.85, up Rs 13.25, or 1.56 percent on the BSE.