M&M drops 1% as Q4FY19 PAT declines 19.9% yoy

Shares of Mahindra & Mahindra (M&M) were trading 1% down on Thursday after the company missed the PAT expectations for the final quarter of FY19.

 

The company’s PAT declined by 19.9% yoy to Rs848.8cr, ~5% below estimates. Higher raw material costs led to decline of 6.2% yoy in EBITDA, which stood at Rs1,645.8cr, broadly in-line with expectation. Thus, EBITDA margin contracted by 146bps yoy to 11.7%, against estimate of 12.1%.

 

Mahindra & Mahindra Ltd's share price is currently at Rs660.90, down by Rs11.35 or 1.69%, from its previous close of Rs672.25 on the BSE. 

 

The scrip opened at Rs658.90 and has touched a high and low of Rs667.25 and Rs658.70, respectively. So far, 20,87,695 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs83,573.62cr.

 

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