Mamp;M Q3 net up 23

During the nine-month period, the gross sales and income from operations showed a 10.86 per cent increase over the corresponding period last year, growing from Rs 2,938.35 crore to Rs 3,246.34 crore. The sales do not include the turnover of the inter-trade division, which was Rs 84.43 crore last year. The net profit for nine months works out to Rs 189.40 crore from Rs 146.07 crore.

The company said it has substantially improved its market share in the utility vehicle segment to 60.6 percent between April and December, up from 56.5 per cent last year. During this period it sold 49,063 vehicles compared to 44,941 last year.

While the industry showed an increase of 1.8 per cent in the utility vehicle segment in the nine months, Mamp;M registered a growth of 9.2 per cent, it said. The share in the tractor market also improved to 29.6 per cent from 27.6 per cent during this period and it sold 58,108 tractors.