Riding on strong demand forits sports utility vehicles, Mahindra & Mahindra on Friday reported a 26% year-on-year rise in net profit to Rs. 836 crore in the October-December quarter against a year ago. The company's total income grew 29% to Rs. 11,589 crore.
Cashing in on customer
preference for diesel vehicles, M&M posted a 36% growth in SUV sales to 70,483 units. Mahindra commands a 48% market share in the utility vehicle segment. Tractor sales, however, remained flat at 62,522 units.
The company plans to launch a series of products over the next one year including an electric car, sub-4 metre sedan Verito and four refreshes and variants, said Pawan Goenka, president, automotive & farm equipment sector, Mahindra & Mahindra.