New Delhi: Commercial vehicle manufacturer SML Mahindra Ltd on Monday reported a 5 per cent decline in standalone net profit to Rs 63.62 crore for the first quarter ended June 30, 2026, as higher input and employee costs weighed on margins despite healthy revenue growth.
The company, formerly known as SML Isuzu Ltd, had posted a net profit of Rs 66.96 crore in the corresponding quarter of the previous financial year.
Revenue from operations rose 13.2 per cent to Rs 957.54 crore in the April-June quarter of FY27 from Rs 845.89 crore in the year-ago period, while total income increased to Rs 958.73 crore from Rs 847.95 crore.
Profit before tax stood at Rs 85.28 crore compared with Rs 89.55 crore in the year-ago quarter.
Total expenses climbed to Rs 873.45 crore from Rs 758.40 crore a year earlier, driven by higher material costs, employee benefit expenses and inventory-related costs, impacting profitability.
The company’s operating performance also softened during the quarter, with EBITDA declining to around Rs 100 crore from about Rs 105 crore in the corresponding period last year. EBITDA margin narrowed to 10.44 per cent from 12.41 per cent, reflecting rising cost pressures.
Basic and diluted earnings per share fell to Rs 43.96 from Rs 46.27 in the year-ago quarter.
Sequentially, however, the company posted an improvement in performance, with net profit rising from Rs 54.20 crore in the January-March quarter and revenue increasing from Rs 897.65 crore.
