M&M Q3 net profit seen down 32% at Rs 635 crore

MUMBAI: Tractors and utility vehicles manufacturer Mahindra & Mahindra (M&M) will be announcing its third quarter results today. According to ET Now polls, the company is expected to report 32 per cent drop in net profit to Rs 635 crore against a net profit of Rs 934 crore, in year-ago period.

Revenues are seen at Rs 9350 crore, down 11.4 per cent, as compared to Rs 10,555 crore, in corresponding quarter last fiscal. Decline in sales volume of 16 per cent is likely to impact revenues.

Margins are seen at 11.2 per cent vs 13.1 per cent. According to analysts, 24 per cent decline in tractor volumes likely to affect margins.

Factors to watch:
>> Outlook for UVs and tractor business >> Update on launch of 3 new UV platforms in CY15.

At 12:45 p.m.; the stock was at Rs 1,164, up 2.65 per cent, on the BSE. It touched an intraday high of Rs 1166.50 and a low of Rs 1122.80 in trade today.