M&M profit jumps, Ashok Leyland misses estimates as India’s Feb 11 Q3 results rush hits midday
Mahindra & Mahindra reported a 33% jump in Q3 profit to 39.31 billion rupees, driven by SUV and tractor demand but missing analyst estimates. Ashok Leyland’s profit rose 4.5% to 7.96 billion rupees, below forecasts, as costs climbed. Divi’s Labs posted a slight profit dip to 583 crore rupees despite higher income. All three companies took one-off charges related to India’s new labour codes.