Mahindra’s profit grew by 46 percent on a sharp rise in vehicle sales.

Mahindra, one of the country’s largest automobile companies, has done better than expected in the second quarter of the current financial year. The company’s total vehicle sales increased by almost 75 percent to 1,74,098 units. Due to this, the profit of Mahindra has increased by about 46 percent.

The company has bookings for over 2,60,000 sports utility vehicles (SUVs). The company’s profit after tax rose to Rs 20.9 billion in the July-September period. 14.33 billion in the same period last year. Analysts were expecting a profit of Rs 1,988 crore for the company. Mahindra’s Farm Equipments posted the highest sales in the second quarter. volume while the automobile segment registered highest ever quarterly volumes. The company said that the export of its vehicles and tractors has also increased.

Despite strong demand for passenger vehicles, Indian automobile companies including Mahindra are facing difficulties due to semiconductor shortage and rising raw material costs. The country’s largest carmaker Maruti Suzuki reported a nearly four-fold jump in profit for the September quarter, while Tata Motors narrowed its losses.

Mahindra introduced the electric car XUV400 in September. This electric SUV will be launched in 16 cities including Mumbai, Hyderabad, Delhi NCR, Bengaluru, Kolkata, Chennai, Pune, Ahmedabad, Goa, Jaipur, Surat, Nagpur, Trivandrum, Nashik, Chandigarh, Kochi. announcement of its price company Will be launched early next year and customers will be able to book the new Mahindra XUV400 electric car online or at the company’s dealership. The range of this car on full charge is said to be 456 km. The Mahindra XUV400 is powered by an IP67 rated 39.5 kWh battery pack and a PSM motor that produces 149.5 PS of peak power and 310 Nm of peak torque. Its top speed is 150 kmph and the company claims that the car can accelerate from 0-100 kmph in 8.3 seconds. Its design is similar to the XUV300 SUV. The front of this car has LED headlamps with DRL on top, which goes through the headlamps and goes down to the bumper. The company says that the 50kW DC fast charger takes about 50 minutes to charge the battery up to 80 percent.

(This news has not been edited by NDTV team. It is published directly from syndicate feed.)

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