Mahindra & Mahindra logs 17% y-o-y growth in September sales

3 Oct 2023 , 09:59 AM

On October 1, automaker Mahindra & Mahindra announced a 17% y-o-y growth in overall auto sales to 75,604 units for September.

According to the automaker, passenger vehicle sales totaled 41,267 units in the previous month, up from 34,508 units in September 2022, representing a 20% YoY increase.

Aside from that, utility vehicle sales increased by 20% year-on-year to 41,267 units, up from 34,262 units in the previous month.

It reported zero car and van sales in September, compared to 246 units in September 2022.

According to the carmaker, overall exports were 2,419 units in September, a 5% decrease from the 2,538 units reported in September 2022.

M&M declared a standalone net profit of Rs 2,774 crore for the quarter ended June 2023, a 98% increase over the previous-year period of Rs 1,404 crore.

At around 9.56 AM, Mahindra & Mahindra was trading 0.34% higher at Rs 1,559.55 per piece, against the previous close of Rs 1,554.25 on NSE. The counter touched an intraday high and low of Rs 1,598 and Rs 1,555.20, respectively.

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