Shares of Mahindra & Mahindra Financial Services rose by 7 per cent on Monday after the company reported a 12 per cent rise in consolidated net profit for quarter ended March 31.
The stock climbed 6.56 per cent to Rs 293.65 on BSE.
At NSE, it went up by 6.98 per cent to Rs 294.95 — its 52-week high.
Mahindra & Mahindra Financial Services on Saturday reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore in the March quarter.
The company had posted a net profit of Rs 367.26 crore in the corresponding quarter of FY15.
Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago, it had said in a BSE filing.
On a yearly basis, the group posted a net profit of Rs 772.29 crore, down 15.4 per cent from FY15.
The company also recommended a dividend of Rs 4 per equity share to the shareholders for the FY16.