Exports were weaker too, halving to 27 units from 58 a year earlier, even as production rose modestly to 1,045 units from 974.
Shares of the commercial vehicle maker closed at ₹3,699 on the NSE, down 1.76%.The update comes as the company prepares to transition to a new identity — SML Mahindra Ltd. The board recently approved the name change, following a reservation from the Registrar of Companies, with final clearances pending from shareholders and other regulators.
The rebrand follows Mahindra & Mahindra’s agreement earlier this year to acquire a majority stake from SML Isuzu’s promoters, Sumitomo and Isuzu, for ₹650 per share.Also Read: JSW Steel’s August crude steel output jumps 17% YoY to 27.03 lakh tonnes
M&M subsequently launched an open offer for an additional 26% stake at ₹1,554.6 per share, which received approval from the Competition Commission of India in June.
For the June quarter, SML Isuzu posted a net profit of ₹67 crore, up 44% year-on-year, with revenue rising 13% to ₹846 crore. EBITDA improved 15% to ₹105 crore, lifting margins to 12.4%.
