Mahindra & Mahindra third-quarter profit up over 12%, beats estimate

Mahindra & Mahindra Ltd on Friday reported a more than 12 percent rise in its third-quarter profit, beating Street estimates.

Net profit for the three months ended December 31 stood at Rs 1,216 crore, up from Rs 1,081 in the year-ago quarter. 

Analysts on average had estimated a profit of Rs 989 crore, Thomson Reuters data showed.

Revenue from operations fell 2 percent to Rs 11,578 crore.