On the other hand, exports for the period under review rose 2.10% YoY to 2,671 units.

M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The auto major's standalone net profit jumped 31.58% to Rs 2,038.21 crore on 11.24% increase in revenue from operations to Rs 25,108.97 crore in Q4 FY24 over Q4 FY23.

The scrip rose 0.95% to currently trade at Rs 2,834.45 on the BSE.