Shares of Mahindra & Mahindra, on Monday, climbed over 5 per cent after the company reported an 18 per cent jump in its consolidated profit at ₹2,637 crore for the March quarter and highest-ever annual profit of ₹10,282 crore in FY23.

The stock climbed 5.31 per cent to ₹1,350 on both the BSE and NSE.

The automaker also announced that it has revised upward the capital expenditure (capex) outlay for the three years cycle of FY22-FY24 to ₹15,900 crore from ₹15,075 crore.

Also read: Mahindra Group targets a $17 billion valuation for non-core businesses: Anish Shah

The Mumbai-based company had reported a profit after tax (PAT) of ₹2,237 crore in Q4 FY22.

Revenue increased to ₹32,366 crore for the fourth quarter of FY23, as compared to ₹25,934 crore in the year-earlier period.

For the year ended March 31, 2023, the company posted a consolidated PAT of ₹10,282 crore, up 56 per cent.

The company said the FY23 PAT is its highest-ever profit reported in a fiscal year.

Revenue rose to ₹1,21,269 crore last fiscal, an increase of 34 per cent.