Mahindra & Mahindra on Wednesday reported a 34 per cent increase in its consolidated profit | File
Mahindra and Mahindra, one of the largest automakers in India, reported bumper numbers in its auto sales data for the last month of 2024. In December, the Mumbai-based carmaker reported a 16 per cent jump in its sales of vehicles.
Mahindra Reports Mega Numbers
This development appears to have been welcomed at the Dalal Street, as the shares of the company listed at the exchanges soared on Thursday, January 2.
The company shares increased in value by over 2 per cent in the early hours of the day’s trade on Thursday.
When it comes to the company’s sales numbers for December, Mahindra & Mahindra reported a 16 per cent jump in its sales. In this, the maker of Scorpio and XUV sold a total of 69,768 units in the whole of December.
The company also reported a 22 per cent jump in the sale of passenger vehicles and an 18 per cent rise in the sale of its coveted SUVs.
Tractors Sales For December
In addition, the company sold 41,424 vehicles in the domestic market, marking a growth of 18 per cent.
Now, when we look at the company’s tractor business, it sold 22,943 units of farming vehicles ion December 2024. This includes domestic sales, along with exports. This figure is greater than the 19,138 units for the same period last year. Exports for the month reached 924 units.
Coming to the rise in shares of the company, Mahindra shares opened at Rs 3,100.00 per share, higher than the previous session’s closing of Rs 3,082 per share. As the session progressed further on Thursday, the shares aggressively progressed further, making bigger gains.
At the time of writing, the shares of the auto-giant surged, at the surge stood at 2.79 per cent or Rs 86.00. This took the overall of the company shares to Rs 3,168.00 per piece. In the past 5 trading sessions, the company shares has risen by 4.90 per cent or Rs 148.00.
