New Delhi, Nov 7
Auto major Mahindra and Mahindra (M&M) on Thursday reported a 13 per cent rise in its standalone net profit for the July-September quarter at Rs 3,841 crore, driven by higher sales of SUVs and a revival in the demand for tractors.
M&M said its automobile segment, which produces the popular Thar and Scorpio SUVs, recorded the highest-ever quarterly volumes at 2,31,038 units in the quarter, up 9 per cent over the same period of the previous year.
The company’s tractor sales during the quarter rose 4 per cent YoY to 92,382 units with its highest-ever Q2 market share at 42.5 per cent for the farm equipment segment.
M&M, India's market leader for tractors, reported a double-digit rise of 10 per cent revenue increase in the farm equipment segment. Its tractor sales rose 3.6 per cent as a good monsoon led to higher crop yields and incomes for farmers. Tractor sales have gone up for a second straight quarter, after a 7 per cent fall in 2023-2024 when erratic weather had hit the country’s agricultural sector.