Mumbai -- Mahindra & Mahindra, M&M has surged by 2.7% to Rs. 578. The company on Wednesday has declared their first quarter results with profit at Rs. 204 crore (Rs. 2.04mn, up 41%) from Rs. 145.3 crore (Rs. 1.45 billion) and revenue at Rs. 2236 crore (Rs. 22.36mn, up 23.4%) from Rs. 1,811.9 crore (Rs. 18.11 billion). Company's OPM is at 12%. Its other income is up at Rs. 45 crore (Rs . 450 million) from Rs. 20 crore (Rs. 200 million). The scrip has touched a high of Rs. 583 and a low of Rs. 565 and has recorded volumes of over 2 lakh shares on NSE.
Lupin has gained by 1% to Rs. 859 after the company got Government approval to advance Psoriasis drug trials. The scrip has touched a high of Rs. 870 and a low of Rs. 857.
Stride Arcolab has declared its second quarter results. The company's total profit is down by 59.3% from Rs. 13.5 crore (Rs. 135 million) to Rs. 5.5 crore (Rs. 55 million). Its gross sales are up by 34.5% from Rs. 124.3 crore (Rs. 1.24 billion) to Rs. 167.2 crore (Rs. 1.67 billion). Company's EBITDA margin is at 13.2% against 25.5%. Its margin hit by Rs. 5.1 crore (Rs. 51 million) forex impact. The mexico operations reported losses of Rs. 3.5 crore (Rs. 35 million).
Tata Tea has hiked by 3.5% to Rs. 780. The company has declared their first quarter results with profit at Rs. 80 crore (Rs. 800mn, down 7%) from Rs. 86.4 crore (Rs. 864 million). Its adjusted gross profit is up at Rs. 80 crore (Rs. 800 million) from Rs. 64.5 crore (Rs. 645 million).
Its revenue are at Rs. 8.06mn (up 12%) on Wednesday. The scrip has touched a high of Rs. 785 and a low of Rs. 756 and has recorded volumes of over 46 thousand shares on NSE.
