Mahindra & Mahindra Ltd Thursday said it closed last month selling 18,469 tractors, 12 percent up as compared to the same period of the previous year.
In a statement, the company said it sold 17,771 units in the domestic market as against 15,595 units in July 2012.
On the other hand, the company witnessed 32 percent fall in its export sales last month. M&M shipped out 698 tractors last month as against 1,026 units in July 2012.
"The second quarter of FY 2013 has begun well and we are happy with our domestic volume of 17,771 units and 15 percent growth achieved in July 2013. The monsoon this year has been normal, which augurs well for the farm sector.
A revival in agri-production will provide greater impetus to the economy amidst the overall slowdown," the statement quoted Rajesh Jejurikar, chief executive, tractor and farm mechanisation at M&M, as saying.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app