Indian automaker Mahindra and Mahindra Ltd reported a smaller-than-expected rise in third-quarter profit on Friday, as higher expenses offset strong demand for its passenger cars.
Mahindra, which is known for XUV, Thar and Scorpio cars, said profit rose to Rs.1528 crore ($185.2 million) in the three months ended December 31, from Rs. 1335 crore a year earlier.
Analysts were expecting a profit of Rs.1761 crore, according to Refinitiv IBES data.
Published 10 February 2023, 11:49 IST