M&M Q3 net up 12% at Rs 934 cr

Operating margin up 13.1% compared to 11.2% y-o-y

Mahindra & Mahindra Ltd, India's biggest utility vehicle maker by sales, posted a 12% rise in quarterly profit, matching estimates as strong tractor sales offset slowing demand for its passenger and commercial vehicles.

Standalone profit was Rs 934 crore in the fiscal third quarter ended December, against Rs 836 crore a year earlier.

Net sales fell 2% to Rs 10,405 crore at Mahindra, also the world's largest tractor company by sales volume.

EBITDA was at Rs 1,382 crore.

The company's operating margin was at 13.1% vs 11.2% on a year-on-year basis.