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Mahindra reaps tractor boom, auto disappoints

While volumes for the auto segment were up 11% to 1.21 lakh

Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd at the launch of company's tractor models under the Yuvo brand, in Hyderabad
Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd at the launch of company's tractor models under the Yuvo brand, in Hyderabad

Mahindra & Mahindra (M&M)’s June quarter performance was broadly in line with expectations led by volume growth and higher share of the more profitable tractor business. While volumes for the auto segment were up 11 per cent to 121,000 units, farm equipment segment (tractor) volumes were up 20 per cent to 74,731 units. This helped the company report a growth of 11.4 per cent in revenue (net of excise) at Rs 10,525 crore, which was lower than Bloomberg consensus estimates of Rs 11,193 crore. The results include the financials of M&M and its manufacturing subsidiary Mahindra Vehicle ...