Mahindra & Mahindra reported a 31.6% rise in standalone Q4 profit to Rs 2,038 crore ($244.06 million), surpassing expectations. The surge was driven by robust SUV sales, which saw a 27.2% increase. Despite a 21.5% drop in tractor and farm equipment sales due to poor rains, overall revenue grew 11.2% to Rs 25,109 crore. The company plans to invest Rs 12,000 crore ($1.44 billion) in its electric vehicles (EV) unit and will transfer some assets worth Rs 796 crore to Mahindra Electric Automobile. Mahindra’s EV model, the XUV400, will be joined by a new range next year.