Mahindra & Mahindra sales grow 14% in April

Auto major Mahindra & Mahindra on Monday reported a 14% rise in total sales to 41,863 units in April.

The company had sold 36,727 units in the same month last year.

In the domestic market, sales were up 14% at 39,357 units last month compared with 34,467 units in April 2015, M&M said in a statement.

Exports surged 11% to 2,506 units during the month as against 2,260 units in April last year, it added.

Sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, also increased by 16% at 22,655 units from 19,464 units in the same month last year.

Commercial vehicle sales rose 14% to 12,947 units last month as against 11,329 units in the year-ago period, M&M said.

M&M Chief Executive (auto division) Pravin Shah said: "Going forward, we hope to maintain our growth momentum with our wide range of product portfolio as well as the new launches of variants and refreshes, as per the need of our customers."

Commenting on the diesel ban issue, he said: "We do hope that the Honourable Supreme Court, while taking a decision on diesel vehicles ban in NCR region on May 9, will take cognisance of all the facts including the role that the automotive industry plays in the country's industrial growth." 

At 1354 hours, the company's shares were slightly up at Rs 1,338.50, higher by 0.51% from previous day's close. At the time, BSE Sensex was down 0.61% at 25,450.