M&M profit up 10% at Rs 990 crore

Mahindra & Mahindra (M&M) today reported a 9.72% increase in standalone net profit at Rs 989.5 crore for the quarter ended September 30, aided by lower expenses.

The company had reported a profit of Rs 901.8 crore a year earlier.

Net sales during the three months ended September 30 were at Rs 8,814.33 crore, down 8.74% from Rs 9,659.2 crore in the same period last year, M&M said in a BSE filing.

Expenses were at Rs 7,981.64 crore, down 10.04% from Rs 8,872.43 crore.

M&M shares traded at Rs 885.85 in the afternoon on the BSE, up 0.75%.