Shares of Mahindra and Mahindra witnessed a nearly 1% increase at the opening on the NSE on December 12, fueled by the company’s robust production growth of 13.4% year-on-year in November.
In a company update dated December 11, Mahindra and Mahindra disclosed a total production of 69,875 units in November 2023, reflecting a significant 13.4% surge compared to 61,618 units in the corresponding period of the previous year. Total sales also demonstrated commendable growth, rising by 24.6% year-on-year to 68,760 units for the same period. However, exports experienced a decline of 41.8%, amounting to 1,816 units during the same period.
During Q2FY24, Mahindra and Mahindra, the automotive manufacturer, reported an impressive 66.9% increase in standalone net profit, reaching Rs 3,451.88 crore for the quarter ending September 2023. Standalone revenue for the same period exhibited robust growth, rising by 16.6% to Rs 25,772.7 crore from Rs 22,105 crore in the previous fiscal year.
As of 10:13 am, Mahindra and Mahindra’s shares were actively trading at ₹1,653.00 on the NSE, indicating positive market sentiment driven by the company’s strong production figures and financial performance.
