Mahindra and Mahindra benefits from increased output and sales volumes

12 Dec 2023 , 01:12 PM

The NSE saw a nearly 1% increase in Mahindra & Mahindra shares at opening on December 12, one day after the company revealed a 13.4% year-over-year increase in output in November. The stock was trading at Rs 1,664.84 as of 9:20 a.m. In the last half-year, the stock has increased by about 20%.

Mahindra and Mahindra stated in a December 11 corporate update that November 2023 saw a total production of 69,875 units, up 13.4% from 61,618 units in the same month the previous year. In the same time frame, total sales increased by 24.6% YoY to 68,760 units. Conversely, during the same time frame, exports decreased by 41.8% to 1,816 units.

Mahindra and Mahindra, a manufacturer of automobiles, announced a 66.9% increase in (standalone) net profit to Rs 3,451.88 crore for the quarter ended in September 2023 in Q2FY24. During the same period, standalone revenue increased 16.6% from Rs 22,105 crore to Rs 25,772.7 crore from the previous fiscal year.

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