Mahindra & Mahindra shares lost as much as 3.4% in Indian trading on Monday afternoon after the tractor and utility vehicle specialist reported unexpectedly lower third fiscal quarter net profit.
The company booked INR4.14bn, lower than the INR4.82bn estimated of INR4.82bn in a Reuters poll.
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Net sales, however, rose to INR44.8bn from INR28.7bn a year before.
The Reuters poll pegged sales at INR45.1bn.
