Mahindra Cuts Tractor Demand Forecast on Weak Monsoon
Mahindra & Mahindra has cut its tractor industry demand forecast because the monsoon has been weak. The company's Q2 profit rose 25% year on year to Rs 4,588 crore, with revenue up 25%. In the same quarter, ONGC's profit fell 9% while LIC's profit rose 20%.
Context
Context: Rainfall strongly shapes rural incomes, so farm machinery sales often track the monsoon closely. Q2 covers July to September, the quarter in which companies report how demand held up during the season.
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