India's largest utility vehicles maker Mahindra & Mahindra has announced its first quarter financial results for the fiscal year 2010-11.

According to the company, it has managed to register a significant rise of 40% in its net profit figure in the June quarter against the same quarter in a year ago period. Mahindra & Mahindra has posted a net profit of 5.62 billion rupees for the quarter that ended in 30th June, 2010.

The company has registered a net profit of 4.01 billion rupees in the same quarter in the previous year. This has been informed by the company in a filing at the Bombay Stock Exchange.

With this Mahindra & Mahindra has managed to beat the earlier forecast of the market experts. Increasing demand in a fast-growing auto market has helped the Indian Inc to continue its good show in this quarter as well.

Mahindra & Mahindra is currently the number one tractor maker in India. It also sells light and heavy trucks in India and it is now planning to coming up with its popular Scorpio sport utility vehicle in the US market.