Auto Sector

For the quarter ended June 2024, the company's total sales increased by 13.5% to 15.35 lakh units, compared to 13.52 lakh units.

Passenger vehicle dispatches were 1,38,682 units in the April-June quarter, up from 1,40,450 in the same time last year.

Last month, utility vehicles including the Brezza, Ertiga, S-Cross, and XL6 recorded sales of 52,373 units, up from 43,404 the previous year.

Eicher Motors' overseas business demonstrated tenacity in the face of local market volatility, recording a 12% gain in sales.

In May, the well-known producer of motorbikes and scooters had a 4% drop in sales, with 4,98,123 units sold overall.

The alliance aims to provide convenience to EV customers by boosting the availability of EV chargers during long-distance and intercity travels.

The EBITDA margin was 14.1% in the reporting quarter, compared to 14.5% in the same period last fiscal year.

Timken then stated that the net proceeds from the transaction would be used to support its 2023 capital allocation targets, with an emphasis on share repurchases.

The corporate agency license would enable Mahindra Finance enhance its product line by including insurance products.

The tyre producer reported a net profit of ₹811 Crore for the fiscal year ended March 31, 2024, up thrice from ₹265 Crore in FY23.