<p>Bengaluru: <a href="https://www.deccanherald.com/tags/mahindra-and-mahindra">Mahindra & Mahindra (M&M)</a>, on Wednesday, reported a 23 per cent jump in adjusted profit for the first quarter, helped by an increase in sales of its sport utility vehicles (SUVs) and a rebound in demand for tractors.</p>.<p>The company's standalone net profit rose to Rs 2,613 crore in the quarter, from the Rs 2,120 crore year-ago profit that was boosted by a gain on the sale of its stake in two units.</p>.Tesla to recall over 1.8 million US vehicles over hood issue.<p>Including that year-ago gain, MM's profit fell 5.3 per cent year-over-year in the latest quarter.</p>.<p>MM's shares fell as much as 1.7 per cent immediately after the results, before reversing course to trade up 1 per cent in the afternoon session.</p>.<p>The company, which makes the 'Scorpio' SUV, said total revenue grew 12 per cent to Rs 2.7 lakh crore.</p>.<p>MM's car sales, almost entirely SUVs, jumped an industry-leading 24%, according to industry data, while tractor sales increased 5.6% in the fiscal first quarter. Tractor sales had fallen 7 per cent in fiscal 2024.</p>.<p>Overall, auto sales, including personal and commercial vehicles, grew 13.1 per cent, to Rs 1.89 lakh crore in the quarter, accounting for two-thirds of total revenue, the company reported.</p>.<p>Sales in the higher-margin farm equipment business rose 9.2 per cent, MM said.</p>.<p>Expenses rose by a tenth, mainly due to higher costs of raw materials such as aluminium, copper and rubber.</p>.<p>Maruti Suzuki India, MM's rival and the country's top carmaker by sales, will report results later in the day.</p>
<p>Bengaluru: <a href="https://www.deccanherald.com/tags/mahindra-and-mahindra">Mahindra & Mahindra (M&M)</a>, on Wednesday, reported a 23 per cent jump in adjusted profit for the first quarter, helped by an increase in sales of its sport utility vehicles (SUVs) and a rebound in demand for tractors.</p>.<p>The company's standalone net profit rose to Rs 2,613 crore in the quarter, from the Rs 2,120 crore year-ago profit that was boosted by a gain on the sale of its stake in two units.</p>.Tesla to recall over 1.8 million US vehicles over hood issue.<p>Including that year-ago gain, MM's profit fell 5.3 per cent year-over-year in the latest quarter.</p>.<p>MM's shares fell as much as 1.7 per cent immediately after the results, before reversing course to trade up 1 per cent in the afternoon session.</p>.<p>The company, which makes the 'Scorpio' SUV, said total revenue grew 12 per cent to Rs 2.7 lakh crore.</p>.<p>MM's car sales, almost entirely SUVs, jumped an industry-leading 24%, according to industry data, while tractor sales increased 5.6% in the fiscal first quarter. Tractor sales had fallen 7 per cent in fiscal 2024.</p>.<p>Overall, auto sales, including personal and commercial vehicles, grew 13.1 per cent, to Rs 1.89 lakh crore in the quarter, accounting for two-thirds of total revenue, the company reported.</p>.<p>Sales in the higher-margin farm equipment business rose 9.2 per cent, MM said.</p>.<p>Expenses rose by a tenth, mainly due to higher costs of raw materials such as aluminium, copper and rubber.</p>.<p>Maruti Suzuki India, MM's rival and the country's top carmaker by sales, will report results later in the day.</p>