M&M gains after declaring good Q4 outcome

Mahindra & Mahindra rose 1.25% to Rs 1,367.80 at 15:22 IST on BSE, after the company declared good results for Q4 March 2017 during market hours today, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 50.12 points or 0.16% at 31,159.40.

On the BSE, 1.73 lakh shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past one quarter. The stock had hit a high of Rs 1,377.55 and a low of Rs 1,342.75 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016.

The stock had underperformed the market over the past one month till 29 May 2017, rising 1.23% compared with the 3.98% gain in the Sensex. The scrip had underperformed the market in past one quarter, gaining 3.37% as against Sensex's 8.23% gain.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

The gross revenues and other income of the combined entity Mahindra & Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML) rose 5.2% to Rs 12289 crore in Q4 March 2017 over Q4 March 2016.

The profit before tax and before exceptional item rose 13.1% to Rs 1085 crore in Q4 March 2017 over Q4 March 2016. The profit after tax before exceptional item rose 13.8% to Rs 780 crore in Q4 March 2017 over Q4 March 2016.

The profit before tax after exceptional item rose 22.1% to Rs 1179 crore in Q4 March 2017 over Q4 March 2016. The profit after tax after exceptional item rose 26.3% to Rs 874 crore in Q4 March 2017 over Q4 March 2016.

MVML was set up as a 100% subsidiary of M&M with a view to source contemporary products for expanding the market offerings of the company.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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