Mahindra & Mahindra Ltd.'s total sales surged 50% in August to 59,257 units, according to an exchange filing on Tuesday. This compared to analyst estimates of 62,000 units.
Commercial vehicle sales rose 28% to 42,337 units, three-wheeler sales jumped 42% to 14,922 units, while total exports soared 71% to 6,054 units.
M&M's tractor sales saw a modest uptick of 5% to 29,507 units, compared to estimates of 28,950 units; majority of which were domestic sales.
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Domestic sales were up 5% to 27,595 units while exports came in at 1,912 units compared to the expected 1,916 units.
The auto giant's share price climbed more than 2% to Rs 3,368 apiece on the NSE after the auto sales data was released. The shares pared some gains to trade 0.8% higher at Rs 3,309 as of 11:08 a.m.
M&M Q1 FY27 Recap
Mahindra & Mahindra (M&M) reported a mixed set of earnings for the June quarter, with net profit and revenue beating Street estimates, while operating performance came in below expectations.
The company's standalone net profit rose 6.8% year-on-year (YoY) to Rs 3,685 crore in the June quarter of FY27, ahead of the Bloomberg consensus estimate of Rs 3,569 crore. The company had reported a profit of Rs 3,450 crore in the corresponding period last year.
Topline, also known as revenue, increased 23% YoY to Rs 41,920 crore, marginally exceeding the Street estimate of Rs 41,845 crore. Revenue stood at Rs 34,083 crore in the year-ago quarter.
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