Total M&M production increases 28% YoY in July 22

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Mahindra & Mahindra (M&M) said total auto production was 54,822 units in July 2022, which is 28% higher than the 42,963 units produced in the same period last year.

Total company sales increased 31% to 53,350 units in July 2022 from 40,860 units sold in July 2021.

Exports for the period under review amounted to 2,798 units (up 32% year-on-year).

M&M Group holds a leading position in agricultural equipment, utility vehicles, information technology and financial services in India. It is the largest tractor company in the world by volume. It has a strong presence in renewable energies, agriculture, logistics, hotels and real estate.

The company recorded a 66.9% increase in its standalone net profit to Rs 1,430 crore on a 66.7% increase in revenue to Rs 19,613 crore in the first quarter of FY23 compared to the first quarter of exercise 22.

The certificate fell 1.22% to currently trade at Rs 1258.95 on BSE.

Year-to-date (YTD), the stock has gained 50.62% while the benchmark Sensex has gained 3.08% over the same period.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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