Edtech unicorn upGrad clocks Rs 560 crore loss in FY24
Online skills and learning platform upGrad has recorded a loss of Rs 560 crore in FY24, a decrease from a Rs 1,142 crore loss in FY23.
Mahindra & Mahindra on Wednesday reported revenue growth of 11.2 per cent (year-on-year) at Rs 27,133 crore in the first quarter of FY25, while net profit fell 5 per cent to Rs 2,613 crore YoY.
The PAT, excluding gains on KG Mobility and MCIE sale, stood at Rs 2,120 crore, recording a growth of 23 per cent YoY, said the company.
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The company’s standalone EBITDA increased by 16 per cent to Rs 4,116 crore compared to Rs 3,551 crore posted in the same period last year.
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“Capitalising on leadership positions, auto and farm continued to expand market share and profit margins. With this momentum and relentless drive towards execution, we will continue to deliver scale in F25,” said Anish Shah, Managing Director and CEO, M&M.
The company posted the highest ever Q1 volumes at 212,000 on the back of improving global markets and improving product mix. It also recorded the highest quarterly tractor volume.
The Scorpio SUV maker said that it gained market share in the auto segment, while retaining its market leadership in the SUV segment with 21.6 per cent.
Further, M&M also crossed 50.9 per cent volume market share in the LCV segment. The company continues to maintain its leadership position in SUVs, LCVs, tractors, and electric three-wheelers (E3Ws).
“In LCVs, we crossed 50.9 per cent volume market share. Auto standalone PBIT grew by 39 percent with margin improvement of 180 bps YoY,” said Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), M&M.
M&M’s shares closed 0.45 per cent lower at Rs 2,909 apiece on Wednesday.
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