Mumbai: Stocks of auto major Mahindra & Mahindra Friday rose by over 5 percent after the company's December quarter earnings met market expectations.
M&M's scrip ended the day with a gain of 5.11 percent at Rs 1,192 on the BSE. During the day, it surged 5.64 percent to Rs 1,198.
At the NSE, it went up by 4.99 percent to Rs 1,191.05.
Led by the gain in the stock, the company's market value went up by Rs 3,603.21 crore to Rs 74,034.21 crore.
"M&M Q3 FY15 results were in-line with our estimates both on the top-line as well as profitability front," said Bharat Gianani, Senior Research Analyst - Automobile, Angel Broking.
Home-grown auto major Mahindra & Mahindra today reported a consolidated net profit of Rs 930.32 crore for the third quarter ended December 31, 2014.
M&M had posted a consolidated net profit of Rs 1,230 crore in the same period last fiscal.
Its revenue stood at 18,371.91 crore in the latest quarter, as against 20,679.92 crore in the same period last fiscal, the company said in a regulatory filing.
The company said the figures are not comparable from the year-ago levels due to the merger of its associate companies.
On a standalone basis, the Mahindra & Mahindra posted third-quarter net profit of Rs 942 crore as against Rs 934 crore in the same period last fiscal, while revenue was at Rs 10,188 crore as against Rs 11,295 crore.
