Advertisement

HindustanTimes Wed,23 Apr 2014

Utility vehicles drive M&M Q3 profit up 26%

HT Correspondent, Hindustan Times  Mumbai, February 08, 2013
First Published: 22:07 IST(8/2/2013) | Last Updated: 22:09 IST(8/2/2013)

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.

Advertisement

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.

Advertisement
more from Business

GM seeks US court protection against ignition lawsuits

General Motors Co filed a motion in a US court to enforce a bar on lawsuits stemming from ignition defects in cars sold before its 2009 bankruptcy as it fights proposed class action litigation that seeks to set aside the restriction.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved