Mahindra and Mahindra quarterly profit climbs as tax cuts boost SUV and tractor sales
Mahindra posted a 33 percent profit rise today as tax cuts boosted SUV and tractor demand. Revenue grew 26 percent despite missing analyst expectations.
Insights:
Mahindra & Mahindra Limited reported a nearly 33% rise in third-quarter profit and a 26% increase in revenue, driven by a surge in demand for sport utility vehicles and tractors. This growth followed the goods and services tax (GST) reduction implemented in India 
IN last September. The tax-driven demand shift materially affected the company’s sales mix and overall financial results for the quarter.
IN last September. The tax-driven demand shift materially affected the company’s sales mix and overall financial results for the quarter.
