Mahindra & Mahindra’s Quarterly Profit Slides As Costs Mount


2021-02-05 08:11:56

Mahindra & Mahindra's Quarterly Profit Slides 90% As Costs Mount

Mahindra and Mahindra Ltd reported a 90 per cent slump in third-quarter profit on Friday, as supply chain disruptions and shortage of certain auto components led the carmaker to record higher costs.

Profit after tax was Rs 30.93 crore for the quarter ended December 31, compared with Rs 307 crore last year, a drop of 90 per cent, Mahindra & Mahindra said. Mahindra & Mahindra’s revenue from operations rose 15 per cent to Rs 14,215.90 crore.

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Mahindra & Mahindra shares fell over 2 per cent to Rs 848 after the company reported December quarter earnings.



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