M&M gains after declaring Q3 result

Mahindra & Mahindra gained 4.96% to Rs 1,190.20 at 14:56 IST on BSE after the combined net profit of the company and its 100% subsidiary Mahindra Vehicle Manufacturers rose 5.7% to Rs 917 crore in Q3 December 2014 over Q3 December 2013.

The result was announced during trading hours today, 13 February 2015.

Meanwhile, the BSE Sensex was up 260.83 points, or 0.91%, to 29,065.93

On BSE, so far 2.19 lakh shares were traded in the counter, compared with an average volume of 58,644 shares in the past one quarter.

The stock hit a high of Rs 1,193.80 and a low of Rs 1,122.80 so far during the day. The stock hit a record high of Rs 1,421 on 4 September 2014. The stock hit a 52-week low of Rs 887.15 on 14 February 2014.

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

Combined gross revenues and other income of Mahindra & Mahindra (M&M) and its 100% subsidiary Mahindra Vehicle Manufacturers (MVML) fell 10.62% to Rs 10087 crore in Q3 December 2014 over Q3 December 2013.

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

Mahindra & Mahindra (M&M)'s net profit rose 0.86% to Rs 942.14 crore on 9.23% fall in total income to Rs 9667.08 crore in Q3 December 2014 over Q3 December 2013. The net profit was boosted by an exceptional item of Rs 299.34 crore in Q3 December 2014.

On a consolidated basis, M&M group's net profit fell 24.39% to Rs 930 crore on 11.16% fall in gross revenue and other income to Rs 18372 crore in Q3 December 2014 over Q3 December 2013.

In its outlook, M&M said that the company remains alert to the possibility of ripple effects emanating from a sudden and sharp deterioration in the extant global economic climate.

Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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