M&M tractor sales climb 61% in October

M&M tractor sales climb 61% in October

02/11/2016 12:14

Homegrown auto major Mahindra & Mahindra Ltd’s (M&M) Farm Equipment Sector (FES) on Wednesday reported a 61 per cent growth in total tractor sales at 45,177 units in October FY17.

It had sold 28,081 units during the same period last year, the company said in a filing to the BSE on November 02, 2016.

The domestic tractor sales of the company jumped 61 per cent to 43,826 units during the October FY17, as compared to 27,280 units during the same month a year ago.

Further, the company’s exports rose by 69 per cent to 1,351 units during the month, from 801 units in the same month previous fiscal, it said.

Commenting on the performance, M&M, President and Chief Executive – Farm Equipment and Two-Wheeler Division, Rajesh Jejurikar said, “This season’s rainfall has been normal resulting in healthy water levels in reservoirs. Expectation of good Kharif crop coupled with continued good sentiments will positively impact demand going forward.”

Meanwhile, shares of the company were trading at Rs 1,358 apiece, up 2.68 per cent, from previous close on BSE at 12:17 hours.

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