Automaker Mahindra & Mahindra (M&M) on Friday announced that its standalone net profit in the March quarter jumped 22 per cent year-on-year (YoY) to Rs 1,548.97 crore. The automaker major’s net profit in the same quarter last year stood at Rs 1,268.55 crore.
M&M has also announced a dividend payout of Rs 16.25 (or 325 per cent) per equity share of the face value of Rs 5 each.
The company’s standalone revenue from operations jumped 31 per cent to 22,571.37 crore in Q4FY23 from Rs 17,237.76 crore in the same period a year ago.
M&M’s consolidated revenue from operations jumped 87.7 per cent in the period under review to Rs 32,365.60 crore, from Rs 25,934.40 crore in the fourth quarter of FY22.
The automaker’s consolidated net profit in the January-March quarter climbed 15 per cent to Rs 2,998.37 crore, as compared to Rs 2,608.13 in the same period a year ago.
For the whole financial year of 2023, M&M’s consolidated net profit climbed 56.8 per cent to Rs 11,374.48 crore, compared to Rs 7,253.01 crore in FY22. Its revenue from operations for the full fiscal year jumped 34.4 per cent to Rs 1,21,268.55 crore, from Rs 90,170.57 crore in FY22.
At the time of writing, Mahindra & Mahindra’s stock was trading 0.19 per cent higher at Rs 1280 on BSE.