M&M's Q3 standalone net profit accelerates by 33%

Automobile manufacturer Mahindra and Mahindra (M&M) on Friday reported an exponential rise of 33.29 per cent in its standalone net profit for the third quarter of the 2016-17 fiscal.

According to the company, its Q3 standalone net profit grew to Rs 1,112.27 crore from Rs 834.47 crore for the quarter ended December 31, 2015.

The company informed the BSE in a regulatory filing that its total income from operations during the quarter under review increased by 1.47 per cent to Rs 11,777.98 crore from Rs 11,607.35 crore earned during the corresponding period of last fiscal.

The company's scrip at the BSE edged lower by 1.08 per cent or Rs 14 per share to Rs 1,278.05 from the previous close of Rs 1,292.05 per share.