For the quarter ended December 2020, Mahindra and Mahindra reported a massive 39.6 percent year-on-year growth profit at Rs 530 crore. Revenue from operations grew by 16 percent year-on-year to Rs 14,056.5 crore in Q3FY21, with strong tractor volumes. The company sold 97,420 tractors in the domestic market registering a 20% growth.
“Growth momentum for the tractor industry was supported by positive sentiment in rural parts of the country, specifically the agri economy which is driven by (i) Very good monsoon (ii) Healthy reservoir levels (iii) record kharif production (iv) good rabi sowing (v) Continued high central government spending in agriculture and rural development,” the company said.
Mahindra & Mahindra shares were trading at Rs 874.30 on the BSE, up 0.90 percent.
