M&M Q1 profit rises on higher SUV, truck sales

MUMBAI: Mahindra & Mahindra reported a 12.35% rise in net profit at ₹955 crore during April-June, compared to the year-ago period, meeting expectations, helped by

MUMBAI: Mahindra & Mahindra reported a 12.35% rise in net profit at ₹955 crore during April-June, compared to the year-ago period, meeting expectations, helped by strong sales of its sport utility vehicles and trucks. Analysts had expected the company to post a net profit of ₹883 crore. Net sales at India’s largest utility vehicle maker rose 14% to ₹11,942 crore, compared to the same period last year. Total vehicle sales rose 11% to 121,530 units during the three-month period. Sales of several carmakers, including M&M, Tata Motors and Toyota Motor, have been hit due to a temporary ban by the Supreme Court on the sale of large diesel cars in New Delhi.

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