M&M slips 4% to hit an over 5-year low post weak June quarter results

Operational revenue during the quarter declined by 7 per cent to Rs 26,041 crore against Rs 28,062 crore in the corresponding quarter of the previous fiscal.

Shares of Mahindra & Mahindra (M&M) hit an over five-year low of Rs 526, down 4 per cent on the BSE in intra-day trade on Wednesday after the company reported a 26 per cent decline in its consolidated net profit before exceptional items at Rs 918 crore for June quarter (Q1FY20). The fall in profit was attributed to sluggish domestic volume and increased cost pressure. The company had posted a profit of Rs 1,238 crore in the year-ago quarter.

Operational revenue during the quarter declined by 7 per cent to Rs 26,041 crore against Rs 28,062 crore in the