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Automaker Mahindra's quarterly profit slides as costs mount

· 02/05/2021 02:47
Automaker Mahindra's quarterly profit slides as costs mount

- Mahindra and Mahindra Ltd MAHM.NS reported a 90% slump in third-quarter profit on Friday, as supply chain disruptions and shortage of certain auto components led the carmaker to record higher costs.

Profit after tax was 309.3 million rupees ($4.24 million) for the quarter ended Dec. 31, compared with 3.07 billion rupees last year, Mahindra said.




($1 = 72.9350 Indian rupees)


(Reporting by Chandini Monnappa in Bengaluru; Editing by Krishna Chandra Eluri)

((Chandini.M@thomsonreuters.com; +918061822697;))