Auto major Mahindra & Mahindra (which is in 23 SWOT stock screeners) posted its June quarter results Wednesday, showing an 80% year-on-year rise in profit at Rs 2,260 crore against Rs 1,257 crore in the corresponding quarter last year. Excluding exceptional items and  a one-time gain of Rs 1,367 crorr however, profit came in at Rs 918 crore, down 26% YoY. This was lower than estimates from analysts of Rs. 1,000 crore. 

Weakening agri sales due to a weaker monsoon with delayed onset as well as a hit in farmer incomes has had a toll on tractor sales in the auto sector. M&M sold 82,013 tractors in Q1FY20, down 15% YoY. Vehicles sales overall fell 5%. Promoters at M&M have increased their pledged stocks.