M&M's total production rises 28% YoY in July'22

Mahindra & Mahindra (M&M) said that the total production of automobiles was 54,822 units in July 2022, which is higher by 28% as compared with 42,963 units produced in the same period last year.

The company's total sales increased by 31% to 53,350 units in July 2022 from 40,860 units sold in July 2021.

Exports for the period under review stood at 2,798 units (up 32% 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.

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

On a year-to-date (YTD) basis, the stock has gained 50.62% while the benchmark Sensex has added 3.08% during the same period.

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