India's largest utility vehicles maker, Mahindra & Mahindra has recently beaten the forecasts at the street as it posted a 40% rise in the first quarter profit driven by increasing demand in a fast-growing auto market.

While the company said that it has suffered a 10% production loss in the quarter, it was still able to keep its flag flying high in the Indian market. Inline the case with the market leader, Maruti Suzuki that posted a 20% fall in its profits, M&M has surely emerged as a winner in the last quarter.

However, the results of Tata motors are still awaited but it is believed that the home-grown companies will be able to beat the street.

It is to be mentioned here that the company has reported a quarter net profit of 5.62 billion rupees ($121 million) compared to 4.01 billion year-ago.

Keeping in mind that the $7.6 billion group sells light and heavy trucks, the low-cost Logan sedan and scooters, plans to launch its popular Scorpio sport utility vehicle in the United States later this year under its automotive arm, the company is expected to raise the bar in the times to come in the Indian market.