M&M shares jump 5% after earnings announcement

During the day, it zoomed 6.11% to Rs 1,011.45 on the BSE

AgenciesUpdated: Monday, May 30, 2022, 06:03 PM IST
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The stock jumped 4.69 percent to settle at Rs 997.90 apiece on the BSE. /Representative image |

Shares of Mahindra & Mahindra on Monday rallied 5 per cent after the company reported nearly five-fold jump in standalone profit for the quarter ended March 2022.

The stock jumped 4.69 per cent to settle at Rs 997.90 apiece on the BSE. During the day, it zoomed 6.11 per cent to Rs 1,011.45.

On the NSE, it went higher by 4.94 percent to close at Rs 1,000 apiece.

In volume terms, 4.60 lakh shares were traded on the BSE and over 1.16 crore shares on the NSE during the day.

On Saturday, Mahindra & Mahindra posted nearly five-fold jump in standalone profit at Rs 1,192 crore for quarter ended March 31, 2022.

The company had posted a profit of Rs 245 crore for the year-ago period, it said in a statement.

Revenue grew 28 per cent to Rs 17,124 crore in the period under review as compared with Rs 13,356 crore in March quarter of FY21, it said.

In 2021-22, the company logged a standalone profit of Rs 4,935 crore, a multi-fold growth from Rs 984 crore in fiscal year ended March 31, 2021.

(With PTI inputs)

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