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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)’sJunequarterperformancewasbroadlyinlinewithexpectationsledbyvolumegrowthandhighershareofthemoreprofitabletractorbusiness.Whilevolumesfortheautosegmentwereup11percentto121,000units,farmequipmentsegment(tractor)volumeswereup20percentto74,731units. Thishelpedthecompanyreportagrowthof11.4percentinrevenue(netofexcise)atRs10,525crore,whichwaslowerthanBloombergconsensusestimatesofRs11,193crore.TheresultsincludethefinancialsofM&ManditsmanufacturingsubsidiaryMahindraVehicle ...