M&M shares up 3 pc after Q4 earnings

Shares of Mahindra & Mahindra today rose by nearly 3 per cent after the company posted 50 per cent jump in net profit for the March quarter.

The scrip went up by 2.26 per cent to end at Rs 868.80 on BSE. During the day, it jumped 2.98 per cent to Rs 875.

On NSE, shares of the company rose by 2.94 per cent to close at Rs 874.95.

On the equity volume front, 2.76 lakh shares of the company were traded on BSE and 46 lakh shares changed hands on NSE during the day.

Mahindra & Mahindra today posted 50 per cent jump in net profit to Rs 1,155 crore for the March quarter, driven by robust sales across segments including utility vehicles and tractors.

M&M had reported a net profit of Rs 770 crore during the January-March quarter of the previous fiscal.

Its revenue and other income rose by 24 per cent to Rs 13,355 crore during the fourth quarter of 2017-18, compared to Rs 10,795 crore in the year-ago period, M&M said in a regulatory filing.