Mahindra and Mahindra shares fall 3 pct after reported decline in net profit for quarter 3

Shares of Mahindra & Mahindra Friday fell nearly 3 percent after the company reported 11.44 percent decline in standalone profit after tax (PAT) for the third quarter ended December 2018. The company's shares declined 2.64 percent to close at Rs 683 on the BSE. Intra-day, it dropped 3 percent to Rs 680. At the NSE, shares slipped 2.68 percent to close at Rs 682.10. In terms of volume, 4.66 lakh shares changed hands at BSE, while over one crore shares were traded on the NSE during the day.

The homegrown auto major reported 11.44 percent decline in standalone PAT at Rs 1,076.81 crore for the third quarter ended December 2018. The company had posted a PAT of Rs 1,215.89 crore in the same quarter last fiscal, M&M said in a regulatory filing. Total income during the period under review stood at Rs 13,411.29 crore. It was at Rs 11,676.05 crore in the year-ago quarter.

(With inputs from agencies.)