India's Mahindra and Mahindra's Q3 profit misses estimates

Credit: REUTERS/Danish Siddiqui

BENGALURU, Feb 14 (Reuters) - Indian automaker Mahindra & Mahindra MAHM.NS posted a smaller-than-expected rise in third-quarter profit on Wednesday as weak demand for its profit-boosting tractors offset strong sport utility vehicle (SUV) sales.

The 'Scorpio' SUV-maker's standalone profit after tax rose 60.6% to 24.54 billion rupees ($295 million) in the three months to Dec. 31, missing analysts' estimate of 25.12 billion rupees.

($1 = 83.0712 Indian rupees)

(Reporting by Varun Vyas and Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

((varunvyas.hebbalalu@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.