M&M Q1 Preview: Profit may grow up to 70% YoY; margin likely to expand sequentially
M&M logged tractor sales volumes of 1.19 lakh units in June quarter, up 62.6 per cent sequentially, ICICIdirect said, adding that automotive volumes were nearly flat QoQ at 1.53 lakh units. On a sequential basis, the brokerage sees net sales rising 14.9 per cent QoQ to Rs 19,677 crore with automotive average selling price (ASP) seen at at Rs 7.9 lakh per cent unit (up 2 per cent QoQ) and tractor ASPs seen at Rs 6 lakh per unit (up 1 per cent QoQ).