New Delhi, Jul 7 (PTI) International Tractors Ltd, which sells tractors under the Sonalika brand, on Thursday reported an 18 per cent growth in sales at 39,274 units in the first quarter of 2022-23.

The company had sold 33,219 tractors in the corresponding period in FY22, International Tractors said in a statement.

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Despite an unprecedented heat wave affecting crop production across the country, the MSP (Minimum Support Price) uptick from the government side has facilitated healthy rural cash flow, thereby driving tractors' overall demand in Q1 FY23, it added.

International Tractors Ltd Joint Managing Director Raman Mittal said, "Achieving our highest-ever Q1 overall sales of 39,274 units with 18 per cent growth is a testament that we understand farmers and their regional market requirements well, which subsequently boils down to reinforced farmer trust in brand Sonalika."

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He further said, "I am optimistic that we have set our FY23 course in the right direction for upcoming seasons later during the year. Sonalika Tractors will continue to address regional farmer requirements to ensure high productivity and income for their buoyant future."

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