Mahindra & Mahindra slips 5% on muted December quarter results

Lincoln Wylie

Shares of Mahindra & Mahindra (M&M) slipped five for every cent to Rs 538 on the BSE on Monday right after the automaker described a seventy three for every cent calendar year on calendar year (YoY) fall in its consolidated net gain at Rs 380 crore in December quarter (Q3FY20). It had net gain of Rs 1,396 crore in the calendar year-back quarter. The stock was the leading loser amid S&P BSE Sensex index at 11:37 am.

The company’s described net gain throughout the quarter was impacted by Rs 600 crore thanks to the provisions created in the direction of impairment of particular investments. Its consolidated revenues declined six for every cent at Rs 12,one hundred twenty crore on YoY basis. Working margin improved to fourteen.8 for every cent from 13.two for every cent in the corresponding quarter of earlier fiscal.

The administration explained the unseasonal rains in the month

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