Mahindra & Mahindra Quarterly Profit Falls 11% On Lean Demand

Automaker Mahindra & Mahindra Ltd on Friday posted an 11.4 per cent drop in third-quarter profit, as the demand for passenger vehicle sales softened and its MHCV segment came under pressure due to new axle loading norms.

Net profit for the three months ended Dec. 31 stood at Rs 1,077 crore, down from Rs 1,216 crore in the year-ago period, the Mumbai-headquartered company said.

Analysts on average expected the company to log in a profit of Rs 1,004 crore, according to Refinitiv data.

Revenue from operations jumped 12.9 per cent to Rs 13,070 crore.

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