Shares of Mahindra & Mahindra plunged 6.11 per cent today after the auto major's standalone profit after tax declined by 2.78 per cent to Rs 737.4 crore in the July-September quarter. Despite positive opening,the scrip went into a tailspin and settled at Rs 790.40,down 5.73 per cent from the last close on the BSE. During the day,the scrip dropped 6.64 per cent to a low of Rs 782.70. M&N was the top loser among the Sensex-30 blue-chips. On the NSE,the stock ended 6.11 per cent lower at Rs 790. Intra-day,the scrip touched a high of Rs 850.70 and a low of Rs 782.20. "Investor sentiment was dampened by M&M announcing Q2 results lower than street estimate," Motilal Oswal Securities Associate VP Parag Doctor said. M&M's standalone PAT declined by 2.78 per cent to Rs 737.4 crore in the July-September quarter,from Rs 758.5 crore in the same period last year. It reported 3.18 per cent rise in the consolidated profit after tax for the quarter ended September 30 at Rs 761.5 crore on account of contributions from its subsidiary Mahindra Vehicle Manufacturers Ltd (MVML). The company had posted PAT of Rs 738 crore in the same period last fiscal.
