A 27 per cent increase in quarterly profit was achieved by Mahindra and Mahindra, India's biggest tractor and utility vehicle maker, in view of  strong exports.

Mahindra has sold 53,746 vehicles and tractors in July-September, up 12 percent from a year ago.Mahindra has more than a quarter of India's tractor market, the world's biggest by volume. It also has a 45 per cent share of the Indian utility vehicles market.

In the July-September second quarter of the year, its net profit went up to 1.57 billion rupees 1.24 billion rupees a year earlier.

Sales of its utility and passenger vehicles fell 4.5 percent after heavy rains in the western parts of India. But tractor sales climbed 44 percent and exports of its popular Scorpio utility vehicle also jumped.