- By Aditya Pratap Singh
- Fri, 17 May 2024 11:47 AM (IST)
- Source:PTI
Mahindra and Mahindra Share: Following the announcement of a four percent growth in consolidated post-tax profit (PAT) for the March quarter, Mahindra & Mahindra shares climbed to nearly eight percent on Friday. The stock climbed 7.66 percent to Rs. 2,554.75 on the BSE, which is its 52-week high. It rose 7.68 percent on the NSE to a 52-week high of Rs. 2,554.10.
At around 11:48 a.m., the stock was trading at 2521.70, up over 6 percent on NSE.
It emerged as the biggest gainer among BSE Sensex and NSE Nifty firms. The market capitalization of the company reached Rs 3,13,356.83 crore. The shares of Mahindra & Mahindra climbed by around 4% on Thursday. Mahindra & Mahindra declared a four percent growth in consolidated PAT to Rs 2,754 crore for the March quarter, driven by the solid performance of its automotive and farm sector divisions.`
M&M stated in a regulatory filing that the company had reported a consolidated PAT of Rs 2,637 crore in the January-March quarter of the 2022-23 fiscal year.
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In comparison to Rs 32,456 crore in the same period a year before, revenue increased to Rs 35,452 crore in the fourth quarter, registering a growth of 9%. For the full year ending March 2024, the company recorded a consolidated net profit of Rs 11,269 crore, compared to Rs 9,025 crore in FY23, an increase of 25%.
"It has been an excellent year with most of our businesses delivering a high level of performance. Auto continued its high growth trajectory, farm gained share in a tough market and Mahindra Finance delivered on asset quality," M&M Managing Director & CEO Anish Shah said.
The Mahindra Group intends to invest Rs 37,000 crore in various business sectors over the next three years, with a large chunk earmarked for the auto sector to introduce 23 new vehicles, its MD and CEO Anish Shah said on Thursday.
(With PTI's Input)
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