M&M Extended Gains To Over 4 Percent After Brokerage Houses Remained Positive

Shares of Mahindra and Mahindra traded 4 percent higher as investors cheered the robust results from the firm.

The utility vehicle and tractor maker reported 26.3 percent growth in profit at Rs 873.72 crore for January-March quarter year-on-year, saying its FY18 outlook is much more robust. Other income and exceptional gain boosted bottomline.

Revenue during the quarter increased 4.3 percent to Rs 10,612 crore compared with Rs 10,174.58 crore in same quarter last fiscal, impacted by slow volume growth of 2.5 percent.

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