M&M shares surge to record high on strong Q4 results

Mumbai (Maharashtra) [India], May 30 (ANI): Share price of Mahindra & Mahindra (M&M) surged to a record high of Rs 1006.90 on the BSE on Monday after the company announced strong financial results for the quarter ended March 2022.

Trading in Mahindra & Mahindra shares started at Rs 976 on the BSE. It surged to a high of Rs 1006.90 in the intra-day, the highest level achieved so far.

At 1.55 on the BSE Mahindra & Mahindra share was trading at Rs 1004.20, which is 5.35 per cent higher as compared to its previous session's close at Rs 953.20.

The company's shares have surged after the announcement of Q4 results.

Mahindra & Mahindra (M&M) on Saturday reported standalone profit (before exceptional items) at Rs 1,167 crore for the fourth quarter of 2021-22 as compared to Rs 998 crore recorded in the corresponding period of the previous year, registering year-on-year growth of 17 per cent.

For the full financial year 2021-22 the company posted net profit after tax before exceptional items at Rs 5,144 crore as compared to Rs 4,071 crore recorded in the last year, registering a growth of 26 per cent.

After accounting for exceptional items, the company's profit after tax rose by 427 per cent year-on-year to Rs 1,292 crore for the quarter ended March 2022 from Rs 245 crore in the corresponding period last year. (ANI)

Source: BUSINESS