M&M gains after strong production in December

Mahindra & Mahindra (M&M) reported 22.54% rise in production at 33,888 units in December 2019 compared with 27,653 units during the same period a year ago.

The M&M scrip rose 0.58% to trade at Rs 527.25. It traded in the range of Rs 527.15 and Rs 532 so far during the day.

M&M on 1 January said that its total automotive sales fell 1% to 39,230 units in December 2019, compared with 39,755 units in December 2018. Total domestic sales rose 1% to 37,081 units while the total exports slumped 30% to 2,149 units in December 2019 over December 2018.

 

M&M's Farm Equipment Sector sold 17,990 tractors in December 2019, up 3% from 17,404 tractors in December 2018. Domestic tractor sales in December 2019 were up 4% to 17,213 units, as against 16,510 units during December 2018. Exports for the month fell 13% to 777 units in December 2019 from 894 units December 2018.

M&M's consolidated net profit fell 78.3% to Rs 348.14 crore on a 5.9% decline in net sales to Rs 23,935.93 crore in Q2 September 2019 over Q2 September 2018.

Mahindra & Mahindra operates in automotive segment comprising of sales of automobiles, farm equipment and sale of spare parts.

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