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    Anu T S in News

    15 Feb 09:45 AM


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    M&M share price jumps 5% after Q3 earnings; is the stock buy-worthy?

    Mahindra and Mahindra (M&M) share price continued trading in the positive territory for the second consecutive session as it jumped almost 5 per cent in morning trade on BSE on Thursday.

    Mahindra and Mahindra (M&M) share price continued trading in the positive territory for the second consecutive session as it jumped almost 5 per cent in morning trade on BSE on Thursday, February 15, a day after declaring its December quarter results. Mahindra and Mahindra share price opened at ₹1,683.10 against the previous close of ₹1,657.60 and jumped 4.7 per cent to the level of 1,734.70. Around 10:55 am, the stock traded 3.78 per cent higher at ₹1,720.30 on the BSE.

    Mahindra and Mahindra Q3FY24 result
    During market hours on Wednesday, Mahindra and Mahindra reported a consolidated net profit of ₹2,658.40 crore for Q3FY24 against a profit of ₹2,676.56 crore in the same quarter last year.

    Total income from operations, on a consolidated basis, for the quarter under review stood at ₹35,299.39 crore against ₹30,621.28 crore year-on-year (YoY).

    However, the company's standalone PAT (profit after tax) for the quarter under review surged almost 61 per cent YoY to ₹2,453.98 crore against ₹1,528.06 crore in Q3FY23.

    Standalone revenue from operations stood at ₹25,288.51 crore for Q3FY24, up 17 per cent against ₹21,653.74 crore YoY.

    Standalone EBITDA jumped 10 per cent YoY to ₹3,590 crore.

    The stock ended 0.71 per cent higher on Wednesday.

    Source - Mint