Mahindra and Mahindra Q3 profit up 0.87% to Rs942.14 crore
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Mumbai: Mahindra and Mahindra Ltd (M&M) on Friday reported a net profit of Rs.942.14 crore in the December quarter, marginally up 0.87% from a year ago despite lower sales and higher employee cost.
The company has posted a net profit of Rs.934.06 crore in the year-earlier period.
Analysts polled by Bloomberg were expecting net profit at Rs.660.8 crore and net sales at Rs.9,355 crore for the current quarter.
Net sales fell 9.02% to Rs.9,465.94 crore from Rs.10,404.91 crore in the year-ago quarter.
Employee cost for the December quarter was at Rs.609.48 crore, up 11.15%. The company has reported a one-time gain of Rs.299.34 crore.
At 2.12pm, the scrip was trading at Rs.1,167 on BSE, up 2.9%, while India’s benchmark Sensex rose 0.83% to 29,045.35 points.
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