M&M Q3 net profit falls 11.4% on lean demand

Mahindra-and-Mahindra

Mahindra and Mahindra on Friday posted an 11.4% drop in net profit to ?1,077 crore during the third quarter against ?1,216 crore in the same period last year, as the demand for passenger vehicle sales softened and its MHCV segment came under pressure due to new axle loading norms.

Revenue from operations stood at ?13,070 crore during the quarter compared with ?11,578 crore a year ago.

Analysts had predicted a net profit of ?1,004 crore.

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