M&M Financial shares soar 8% on Q4 earnings

Mahindra & Mahindra Financial Services shares today surged nearly 8 per cent, adding Rs 1,249 crore to its market valuation, after the company reported a 12 per cent rise in consolidated net profit for the March quarter.
The stock soared 7.97 per cent to end at Rs 297.50 on BSE. Intra-day, it climbed 9.38 per cent to Rs 301.40, its 52-week high.
On NSE, the scrip rallied 7.96 per cent to close at Rs 297.65.
The company added Rs 1,248.76 crore to Rs 16,920.76 crore in its market valuation.
In terms of volume, 12.73 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

Mahindra & Mahindra Financial Services on Saturday reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore in the March quarter.

The company had posted a net profit of Rs 367.26 crore in the corresponding quarter of 2014-15.
Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago, it had said in a BSE filing.
Besides, the company also recommended a dividend of Rs 4 per equity share to the shareholders for the fiscal 2015-16.