Mahindra & Mahindra (M&M), a passenger, commercial and utility vehicles maker, reported 0.86% rise in its net profit at Rs 8.97 billion for the quarter ended Mar. 31, 2014 as against Rs 8.89 billion in the last year period. Market was expecting profit to come at Rs 8.18 billion.

Total income increased 4.90% to Rs 110.01 billion from Rs 104.87 billion in the same period a year ago. Market was expecting revenues to come at Rs 98.05 billion.

Shares of the company declined Rs 6, or 0.51%, to trade at Rs 1,172.35. The total volume of shares traded was 104,895 at the BSE (1.58 p.m., Friday).