M&M raises tractor volume forecast, posts 23% revenue growth to Rs 133 bn

Volume growth and operational efficiencies help in strong performance for June quarter

Powered by strong volume growth in tractors and commercial vehicles (CVs), albeit on a low base, Mahindra & Mahindra posted robust 23 per cent growth in revenue to Rs 133 billion for the June quarter.

While volume growth in the automobile segment was 19.6 per cent, that of the farm equipment segment was up 18 per cent over the year-before quarter.

The utility vehicle (UV) portfolio (43 per cent of automobile volume) continued to underperform, with growth a little under six per cent. All other segments in the automobile portfolio had double-digit growth. Within CVs, growth at 19.5 per cent