New Delhi, Nov 9 (PTI) Shares of Mahindra & Mahindra (M&M) on Tuesday jumped nearly 4 per cent after the company reported an over eight-fold increase in its standalone profit after tax (PAT) for the second quarter ended on September 30, 2021.

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The stock gained 3.92 per cent to close at Rs 892.90 on the BSE. During the day, it jumped 5.32 per cent to Rs 905. At the NSE, it rose by 3.79 per cent to close at Rs 892.15.

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It was the biggest gainer on both the benchmark indices.

In volume terms, 2.78 lakh shares were traded at the BSE and over 1.53 crore shares at the NSE during the day.

The homegrown auto major on Tuesday reported an over eight-fold increase in its standalone profit after tax (PAT) to Rs 1,432 crore for the second quarter ended on September 30, 2021, riding on the back of robust sales.

The Mumbai-based company had posted a standalone PAT of Rs 162 crore in the July-September period of the previous fiscal.

Revenue for the second quarter rose by 15 per cent to Rs 13,305 crore as against Rs 11,590 crore in the year-ago period, M&M said in a regulatory filing.

The company said it sold 99,334 vehicles during the period under review, up 9 per cent from 91,536 units in the second quarter of last fiscal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)