M&M production rises 8% YoY in June'24

Mahindra & Mahindra said that its total production rose 7.73% to 69,045 units in the month of June 2024 as compared with 64,092 units produced in the same period last year.

The auto major's total sales stood at 66,800 units in May 2024, registering a growth of 11.47% on YoY basis.

Exports for the period under review grew by 3.67% YoY to 2,597 units.

Meanwhile, the company also reduced its stake in Switzerland's Gamaya from 15.04% to 4.33% due to a shareholding reorganisation.

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

M&M's standalone net profit jumped 31.58% to Rs 2,038.21 crore on 11.24% increase in revenue from operations to Rs 25,108.97 crore in Q4 FY24 over Q4 FY23.

The scrip fell 0.04% to currently trade at Rs 2,697.30 on the BSE.

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