M&M production climbs 19% YoY in April'24

Mahindra & Mahindra said that its total production jumped 19.02% to 70,025 units in the month of April 2024 as compared with 58,830 units produced in the same period last year.

The auto major's total sales stood at 68,614 units in April 2024, registering a growth of 13.44% on YoY basis.

On the other hand, exports for the period under review rose 2.43% YoY to 1,857 units.

The Mahindra Group is one of the largest multinational federation of companies. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the worlds largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The auto major's standalone net profit surged 60.59% to Rs 2,453.98 crore in Q3 FY24 as against Rs 1,528.06 crore recorded in Q3 FY23. Revenue from operations increased 16.7% year on year (YoY) to Rs 25,288.51 crore in the quarter ended 31 December 2023.

The scrip fell 0.56% to currently trade at Rs 2,180 on the BSE.

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