The company released its outlook along with Q3 December 2011 results during trading hours today, 7 February 2012.
Meanwhile, the BSE Sensex was down 99.81 points, or 0.56%, to 17,607.50.
On BSE, 5.64 lakh shares were traded in the counter as against an average daily volume of 2.85 lakh shares in the past one quarter.
The stock hit a high of Rs 720 and a low of Rs 692 so far during the day. The stock had hit a record high of Rs 874.75 on 28 October 2011. The stock had hit a 52-week low of Rs 585.10 on 28 February 2011.
The stock had underperformed the market over the past one month until 6 February 2012, gaining 8.18% compared with the Sensex's 11.59% rise. The scrip had also underperformed the market in past one quarter, falling 14.99% as against 0.82% rise in the Sensex.
India's largest utility vehicles and tractors maker has an equity capital of Rs 306.99 crore. Face value per share is Rs 5.
The combined net profit of Mahindra & Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML), excluding extra-ordinary items, rose 16% to Rs 705.90 crore in Q3 December 2011 over Q3 December 2010. The combined gross revenue and other income of M&M and MVML jumped 33.9% to Rs 9011.20 crore in Q3 December 2011 over Q3 December 2010.
MVML was set up a 100% subsidiary of M&M, with a view to sourcing contemporary products for expanding the market offerings of M&M. M&M announced the Q3 result during trading hours today, 7 February 2012.
The company said it would separately announce consolidated results at a later date.
M&M said growth in profit in Q3 December 2011 despite relentless increase in material costs was due to a good volume performance by both vehicles and tractors segments in a difficult market and due to tight control on expenses. M&M said it has always met challenges through its continuous focus on new product introductions, which has helped it drive volumes.
In the passenger utility segment, the company's sales rose 22.9% to 51,702 units in Q3 December 2011 over Q3 December 2010. The company's market share in this segment was 57.8%.
Tractor sales rose 12% to 62,342 units in Q3 December 2011 over Q3 December 2010. The company's market share in this segment was 42.9%.
In its outlook, M&M said the current year to date, with global macro risks particularly in the oil markets, has been a challenging one. The company said it has always met challenges through its continuous focus on new product introductions which have helped it drive volumes. However, in the near future, its is expected that margins will continue to be under pressure.