Going ahead a good monsoon will be a key enabler in reviving the demand for tractors. "We hope the apex court come up with a lasting solution to the issue. "On the tractor business, its farm equipment head Rajesh Jejurikar said after five consecutive quarters of de-growth the tractor industry witnessed a growth of 7.9 per cent in the March quarter, helping it boost its market share to 41 per cent.This was primarily due to a marginally higher Rabi output and lower industry base. While hospitality arm Mahindra Holidays reported a 19 per cent revenue growth and net income of growth of 49 per cent, TechM's revenue grew 17 per cent and net income 19 per cent.The Mahindra counter ended 0.6 per cent down at Rs 1,327.50 on the BSE whose benchmark Sensex continued its upward journey for the fifth continuous trading day gaining 0.30 per cent. The IMD and Skymet forecasts are above normal monsoon which bodes well for the industry.On the struggling truck and bus business, Goenka said medium heavy vehicles segment continues to grow on back of replacement demand, improvement in industrial activity and movement in infrastructure projects, but the rural demand has been sluggish in the March quarter.Jejurikar said the company continued its leadership position in the pick-up (2-3.5 T) segment with a 66.6 per cent market share and continued to be the largest player in the small commercial vehicles (3.5 T) segment with a market share of 49 per cent.The board recommended a final 240 per cent dividend or Rs 12 per share which will see an outgo of Rs 841.7 crore.M&M Group consolidated income for the full year rose 10 per cent Rs 83,207 crore, while consolidated profit after tax inched up to Rs 3,211 crore from Rs 3,137 crore.During the year, group companies like Tech Mahindra and Mahindra Holidays improved performance.

Source: Economic Times May 30, 2016 14:26 UTC