Mahindra shares soares increase in PAT
Shares soared over 6 per cent after the company reported a 19.93 per cent increase.
New Delhi: Shares of Mahindra & Mahindra (M&M) today soared over 6 per cent after the company reported a 19.93 per cent increase in standalone profit-after-tax (PAT) for the fourth quarter ended March 2017. The stock jumped 6.38 per cent to Rs 1,449 on BSE. On NSE, shares of the company surged 6.42 per cent to Rs 1,448.50.
The stock was the top gainer among the Sensex and Nifty components during the morning trade. Homegrown auto major M&M yesterday reported a 19.93 per cent increase in its standalone profit-after-tax (PAT) at Rs 725.16 crore for the fourth quarter ended March 2017.
The company had posted a PAT of Rs 604.63 crore during the same period a year ago. Its total income from operations during the fourth quarter rose to Rs 12,319.64 crore, up 4.04 per cent from Rs 11,840.47 crore a year earlier.