M&M sells 36,437 vehicles in April

Mahindra & Mahindra (M&M) announced that its overall auto sales (passenger vehicles+commercial vehicles+exports) for the month of April 2021 stood at 36,437 vehicles.

"The units sold in April this year is not comparable with April 2020, since no vehicles were sold last year in the domestic market due to COVID related lockdown," the company said in a statement.

Sequentially, the company's auto sales declined 9.8% in April 2021 from 40,403 units sold in March 2021.

In the utility vehicles segment, Mahindra sold 18,186 vehicles in April 2021. The passenger vehicles segment (which includes UVs, cars and vans) sold 18,285 vehicles in April 2021.

Export sales stood at 2,005 units in April 2021 as against 733 units in April 2020.

M&M's Farm Equipment Sector (FES) recorded 477% jump in total tractor sales (domestic+exports) during April 2021 to 27,523 units, as against 4772 units for the same period last year.

The company's total tractor sales have contracted 11.1% last month from 30,970 units sold in March 2021.

Domestic sales in April 2021 were at 26,130 units, as against 4,716 units during April 2020. Exports for the month stood at 1,393 units.

M&M's business is diversified across farm equipment, auto and automotive components, real estate, hospitality, information technology, defence and aerospace and financial services.

M&M reported 6.5% decline in net profit to Rs 159.60 crore on 11.3% rise in net sales to Rs 21,625.95 crore in Q3 FY21 over Q3 FY20.

The scrip was currently down 0.01% at Rs 752.75 on the BSE.

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