M&M Q3 net profit misses estimates, rises 14% to ₹1,528 crore; shares fall
Mahindra and Mahindra Ltd reported a smaller-than-expected rise in third-quarter profit on Friday
Homegrown auto major Mahindra and Mahindra (M&M) reported a standalone net profit of ₹1,528 crore crore during the third quarter ended December 2022, up 14% as compared to ₹1,335 crore year-on-year (YoY). Analysts were expecting a profit of ₹1,761 crore, according to Refinitiv IBES data. Shares of M&M fell from day's high to trade 0.3% lower at ₹1,367 apiece on the BSE in afternoon deals after the results announcement.