M&M's total production rises 14% YoY in February

Mahindra & Mahindra (M&M) on Friday announced that the company's total production of automobiles advanced 14.04% to 56,997 units in February 2023 as compared with 49,979 units sold in February 2022.

The auto major's total sales rose 9.51% to 56,551 units in February 2023 as against 51,641 units sold in the same period a year ago.

Meanwhile, exports for the period under review stood at 2,250 units (down 20.04% YoY).

M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The company's standalone net profit rose 14% to Rs 1,528.06 crore on 41% jump in revenue from operations to Rs 21,653.74 crore in Q3 FY23 over Q3 FY22.

Shares of Mahindra & Mahindra declined 1.67% to close at Rs 1,226.70 on Friday, 10 March 2023.

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