India within pole-vaulting distance of being able to replace China: Anand Mahindra
₹2,773.73 crore in the quarter ended June 2023, registering a sharp growth of 97.6% from ₹1,403.61 crore in the same quarter last year. The firm's standalone revenue from operations during Q1FY24 jumped 23% to ₹24,368 crore from ₹19,813 crore, YoY.
Other income increased to ₹658 crore from ₹140 crore in the year-ago quarter. The EBITDA during the quarter under review rose 46.5% to ₹3,547 crore from ₹2,421 core, while the EBITDA margin improved to 14.6% from 12.2%, YoY.
The segment’s total sales volume rose 21% to 1,86,138 units during the quarter from 1,53,462 units in the corresponding quarter of last year. Farm equipment segment margin in Q1FY24 improved to 17.5% from 15.9%, YoY.
Its tractor sales during the quarter fell to 1,14,293 units from 1,17,413 units, YoY. M&M's share price traded 0.80% up at ₹1,839.25 apiece on the BSE.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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