Mahindra & Mahindra reported a better-than-expected 63 per cent surge in first-quarter profit on Tuesday, underpinned by robust sales.
Standalone profit after tax, which does not include share of profit from its unit Mahindra Vehicle Manufacturers, stood at Rs 1,221 crore ($177.50 million) for the quarter ended June 30, compared with Rs 749 crore a year earlier.
Analysts on average expected a quarterly profit of Rs 1,174 crore, according to Thomson Reuters.
Revenue from operations grew over nine per cent to Rs 13,520 crore.
Mahindra & Mahindra shares rose as much as 1.2 per cent in intraday trade on Tuesday.
At 2:15 pm, Mahindra & Mahindra stock were trading 0.2 per cent higher at Rs 934.10 apiece on the NSE, whose benchmark index Nifty was up 16 points, or 0.15 per cent, at 11,404.
($1 = Rs 68.79)
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