M&M Q3 profit down 10% at Rs 662 cr

Mahindra & Mahindra Ltd , a utility vehicles maker, reported a bigger-than-expected 9.9% fall in quarterly profit, as rising commodity costs put pressure on margins.

The company reported a net profit of Rs 662 crore for its fiscal third quarter ended December, compared with Rs 735 crore a year earlier. Revenue rose 37% to Rs 8,327 crore.

The company's stocks were trading 1.4% down at Rs 700 on Bombay Stock Exchange at 1410 hours.