M&M shares jump over 4%; market valuation climbs Rs 7,672 cr

New Delhi: Shares of Mahindra & Mahindra Ltd jumped more than 4 per cent on Monday after the company reported a 56.04 per cent rise in consolidated profit after tax for the June quarter.

The stock climbed 4.21 per cent to settle at Rs 1,526.75 apiece on the BSE. During the day, it rallied 4.47 per cent to Rs 1,530.65.

It was the biggest gainer among 30-share BSE Sensex firms.

On the NSE, it jumped 4.32 per cent to end at Rs 1,528 each.

The company added Rs 7,672.57 crore taking its market valuation to Rs 1,89,855.76 crore.

In terms of volume, 3.13 lakh shares of the company were traded on the BSE and over 92.57 lakh shares on the NSE during the day.

On Friday, Mahindra & Mahindra Ltd reported a 56.04 per cent rise in consolidated profit after tax at Rs 3,683.87 crore for the June quarter of 2023-24, riding on strong performance of its automotive segment.

The company had posted a consolidated profit after tax (PAT) of Rs 2,360.70 crore in the same quarter last fiscal, Mahindra & Mahindra (M&M) had said in a regulatory filing.

Revenue from operations stood at Rs 33,406.44 crore as compared to Rs 28,412.38 crore in the year-ago period, up 17.57 per cent, it added.

Total expenses were higher at Rs 30,492.08 crore as against Rs 26,195.01 crore a year ago.