Last updated: 06 Feb, 2021 | 12:58 pm
Higher tractor sales has helped M&M to post a good set of operational numbers in the quarter. The exceptional items on account of impairments have led to a drop in the profit after tax in the current quarter.
Growth momentum for the tractor industry was supported by positive sentiment in rural parts of the country, specifically the agri economy driven by good monsoon, record kharif production, good rabi sowing and continued high Central Government spending in Agriculture and Rural Development. The company expected tractor demand to remain strong in the upcoming quarters as well. For Auto, with many key indicators showing positive momentum, calendar year 2021 has started with strong momentum. However, some significant challenges do exist especially on the supply side and commodity prices, according to the company.