Mahindra and Mahindra Limited (M&M), the Mumbai-based maker of tractors, trucks, and SUVs earned a more than threefold increase in profit from Rs 200 crore to Rs 704 crore. Revenue rose 11.3% to Rs. 21,625 crore. The profit was increased mostly by tractor sales, advanced demand of SUVs, and commercial vehicles. The automaker said on 1st January, “It may sign a term sheet with a potential investor for the sale of its stake in SsangYong Motor Company (SYMC)”, but the deal was unsuccessful.
