Mahindra & Mahindra, India's leading SUV and tractor manufacturer, reported a 22% increase in its fourth-quarter profit, reaching ₹24.37 billion ($290 million). However, this figure fell short of analysts' expectations, which had anticipated a profit of ₹25.23 billion. The shortfall was attributed to a one-time charge of ₹6.45 billion related to the company's international tractor operations and higher production costs associated with its new electric vehicle (EV) models.

Despite these challenges, Mahindra's automotive segment, which accounts for approximately three-fourths of its total revenue, experienced a 25% increase in revenue, amounting to ₹24.98 billion. This growth was driven by strong demand for new SUV models, including the XUV 3X0 and the five-door Thar. Additionally, the farm business segment saw a 23% rise in revenue and a significant 51% increase in pre-tax profit, bolstered by higher tractor sales amid improved farm incomes.

Overall, the company's total revenue for the quarter grew by 25% to ₹313.53 billion, surpassing analyst forecasts of ₹301.38 billion. While the one-time charge impacted the bottom line, Mahindra's diversified portfolio and strong performance in both the automotive and farm sectors indicate a resilient business model poised for continued growth.