M&M: Utility vehicle launches key trigger for 10% revenue growth in Q3

Watch out for tractor volumes, demand for electric vehicles

Volume growth of 6-8 per cent, coupled with higher realisations, buoyed Mahindra & Mahindra’s (M&M’s) December quarter revenue by 10 per cent over the year-ago period.

Revenues were in line with analysts’ estimates. Of the two key segments, automotive and tractors, the latter was the mainstay, both in terms of growth in volumes and margins during the quarter. Tractor sales were up 40 per cent year on year, in January. The industry is expected to end the year with its highest-ever volumes.

The company expects demand to be strong, given the Budget’s focus on agricultural and rural infrastructure, along with