Mahindra -; Mahindra's stock zooms ~3% as company logs five-fold rise in Q4 PAT

31 May 2022 , 11:46 AM

Mahindra & Mahindra’s counter was trading nearly 4% higher in today’s trade as the company posted a sharp increase in its profit during the year.

The company reported a profit of Rs1,192 crore during the quarter under review against Rs245 crore in the previous corresponding quarter.

Company’s revenue jumped 28% yoy to Rs17,124 crore in the period under review as compared with Rs13,356 crore in Q4FY21.

For FY22, the company registered a standalone profit of Rs4,935 crore, a multi-fold growth as against Rs984 crore in the fiscal year ended March 31, 2021.

M&M stated that the company has achieved the highest ever standalone revenue for auto and farm segments at Rs55,300 crore for FY22, which is 29% higher as compared to the previous year.

The company’s auto business delivered the highest ever quarterly UV (utility vehicle) volumes in Q4 with 42% yoy growth. Whereas, Farm Equipment Sector (FES) tractors market share for FY22 stood at 40%, a growth of 1.8% yoy.

Mahindra & Mahindra is currently trading at Rs1,031.50, up by Rs33.6 or 3.37% from its previous closing of Rs997.90 on the BSE. The scrip opened at Rs999.90 and has touched intraday high and low of Rs1,037.50 and Rs993.60 respectively.