M&M's total production climbs 83% YoY in August'22

Mahindra & Mahindra (M&M) on Friday announced that the company's total production of automobiles soared 82.87% to 60,751 units in August 2022 as compared with 33,220 units sold in the same period a year ago.

The automobile major's total sales zoomed 104.84% to 56,137 units in August 2022 as against 27,405 units sold in August 2021.

Meanwhile, exports for the period under review stood at 2,912 units (down 8.43% YoY).

M&M 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.

 

The company reported 66.9% rise in standalone net profit to Rs 1,430 crore on a 66.7% jump in revenue to Rs 19,613 crore in Q1 FY23 over Q1 FY22.

Shares of Mahindra & Mahindra were down 1.01% to Rs 1,307.85 on the BSE.

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