M&M slips after declaring Q4 result

Mahindra & Mahindra fell 0.9% to Rs 1,323.30 at 15:21 IST on BSE after net profit rose 6.02% to Rs 583.73 crore on 14.57% growth in total income to Rs 10912.45 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 30 May 2016.

Meanwhile, the S&P BSE Sensex was up 78.35 points or 0.29% at 26,731.95

On BSE, so far 2.37 lakh shares were traded in the counter as against average daily volume of 91,861 shares in the past one quarter. The stock had hit a high of Rs 1,351.20 and low of Rs 1,314.10 so far during the day. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had underperformed the market over the past one month till 27 May 2016, falling 3.59% compared with Sensex's 2.26% rise. The scrip also underperformed the market in past one quarter, advancing 8.58% as against Sensex's gain of 15.11%.

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 M&M and Mahindra Vehicle Manufacturers (MVML) rose 16% to Rs 11669 crore in Q4 March 2016 over Q4 March 2015. The net profit after tax before exceptional item rose 20.5% to Rs 662 crore in Q4 March 2016 over Q4 March 2015. 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 while announcing Q4 results said in its outlook that with a robust monsoon season predicted for this year, rural demand will pick up pace in coming quarters.

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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