M&M Q3 profit declines 11.44% to ₹1,076.81 crore
NEW DELHI: Homegrown auto major Mahindra & Mahindra on Friday reported a 11.44% decline in standalone profit after tax (PAT) at ₹1,076.81 crore for the third quarter ended December 31, 2018. The company had posted a PAT of ₹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 ₹13,411.29 crore. It was at ₹11,676 crore in the year-ago quarter. Vehicle sales during the third quarter stood at 133,508 units as against 121,786 units in the same period last fiscal, a growth of 10%, M&M said. Passenger vehicle sales for the festive season did not match the industry expectation primarily due to softening of urban demand, the company said.