M&M has skid on the bourses after reporting a net profit of 6.5% at Rs 607 crore in the fourth quarter. The stock is quoting at Rs 638, weaker by Rs 39 or 5.5%, on the BSE.
The muted net profit growth came on the back of a 27.3% rise in gross revenues and other income to Rs 7391.20 crore in Q4 March 2011 over Q4 March 2010.
The shares had opened at Rs 710 and have touched a high of Rs 712 and a low of Rs 660 thus far.
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