Integrated Annual Report 2024-25 | 158 INCOME FROM OPERATIONS AND OTHER INCOME The income from operations of the Company increased by 17.1% as compared to the previous year mainly driven by performance of the Auto and Farm businesses. Sales volume in Auto segment witnessed a growth of 8.5% with sales of 8,46,726 vehicles in the current year as against 7,80,475 vehicles in the previous year. Sales volume in Farm segment witnessed a growth of 12.2% with sales of 4,20,636 tractors in the current year as against 3,74,955 tractors in the previous year. Increase in volumes combined with higher realisation led to Revenue from operations growing by 17.1% as compared to the previous year. Other income during the year ended 31st March, 2025 at Rs. 1,712 crores is lower than Rs. 1,956 crores earned in the previous year mainly on account of lower fair value gain on certain investments in the current year. Particulars Material costs Employee benefits expense Finance costs Depreciation, amortisation and impairment expense Loss from investment related to subsidiaries, associates and joint ventures Other expenses Total expenses FY25 FY24 Increase Amount (Rs. crores) 86,340 4,881 250 4,227 848 8,140 1,04,686 % to Income from Operations 72.8 4.1 0.2 3.6 0.7 6.9 88.3 Amount (Rs. crores) 73,995 4,463 140 3,488 253 7,495 89,834 % to Income from Operations 73.0 4.4 0.1 3.4 0.2 7.4 88.6 % 16.7 9.4 78.3 21.2 234.8 8.6 16.5 EXPENDITURE The total expenditure during the year as a percentage of income from operations is 88.3% as compared to 88.6% in the previous year. The reduction reflects the cost management initiatives undertaken by the Company. MATERIAL COST The material cost as a percentage of income from operations has decreased from 73.0% in the previous year to 72.8% in the current year mainly on account of benign commodity prices and various initiatives taken for management of material cost. EMPLOYEE BENEFITS EXPENSE The personnel cost as a percentage of Income from Operations has decreased from 4.4% in the previous year to 4.1% in the current year mainly due to the higher revenue base in the current year. OTHER EXPENSES Other expenses as a percentage of Income from Operations has decreased from 7.4% in the previous year to 6.9% in the current year mainly on account of stringent cost control measures coupled with higher revenue base in the current year. LOSS FROM INVESTMENT RELATED TO SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES Loss from investment related to subsidiaries, associates and joint ventures has increased due to impairment of certain investments in the current year.
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