M&M shares continue to fall after Q3 earnings, plunge over 5 pc

Shares of Mahindra & Mahindra fell further by over 5 per cent Monday after the company reported an 11.44 per cent decline in standalone profit after tax (PAT) for the December 2018 quarter.

Its shares tumbled 5.31 per cent to close at Rs 646.75 apiece on the BSE. Intra-day, it tanked 5.68 per cent to Rs 644.15.

The stock was the biggest drag on the Sensex.

On the National Stock Exchange (NSE), shares plunged 5 per cent to close at Rs 647.55.

On the traded volume front, 4.09 lakh shares changed hands on the BSE and over 79 lakh shares on the NSE.

The company's shares had fallen nearly 3 per cent on Friday.

The homegrown auto major Friday reported an 11.44 per cent decline in standalone PAT to Rs 1,076.81 crore for the third quarter ended December 2018.

The company had posted a PAT of Rs 1,215.89 crore in the same quarter last fiscal, M&M said in a regulatory filing.