Latest Car News in India

Thursday, August 11, 2011

By Pranjal Gera

Mahindra’s Q1 passenger utility vehicle sales surged 14 percent in FY11-12

The country’s largest utility vehicle maker Mahindra & Mahindra has registered a growth of 28.8% in gross revenue and other income in the first quarter of financial year 2011-12.

The growth in auto sector of the company in domestic market was at impressive 20.9% during this period. Performing impressively in the Passenger Utility Vehicle (UV) segment, the company managed to registered an impressive growth of 14.3% at 44,407 vehicles, as compared to industry growth of mere 5.1%. The company has a strong hold in the Passenger Utility Vehicle (UV) segment with an unbeatable market share of 56.2percent.

The total gross revenue and other income of the company stood at Rs.7294.3 crore during April-June 2011 period, as compared to Rs. 5663.5 crore registered in the year ago period.

The net profit before tax stood at Rs.814.3 crore during this quarter as compared to Rs.721.1 crore registered in the same quarter last fiscal. The form’s profit after tax in the Q1 FY11-12 was at Rs.604.9 crore as compared to Rs. 562.4 crore in Q1 last fiscal, accounting for a surge of 7.6 percent.

The current line-up of the company in the sports utility vehicle segment includes Mahindra BoleroMahindra Scorpio and Mahindra Xylo. Moreover, the auto giant is all set to launch its new World SUV – W201 in the Indian market by next year. The SUV will be showcased at the upcoming Delhi Auto Expo 2012 in January.

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