Mahindra & Mahindra (M&M) announced that effective 1 January 2021, the company will increase the price of its range of passenger and commercial vehicles, across models.
This has been necessitated due to the increase in commodity prices and various other input costs.
The announcement was made after market hours yesterday, 15 December 2020. Shares of M&M rose 1.01% to settle at Rs 718.25 yesterday.
M&M reported 59.7% decline in net profit to Rs 148.36 crore in Q2 FY21 from Rs 368.43 crore in Q2 FY20. Net sales fell 1.5% year-on-year (Y-o-Y) to Rs 23,566.75 crore during the quarter.
M&M's business is diversified across farm equipment, auto and automotive components, real estate, hospitality, information technology, defence and aerospace and financial services.
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