Mahindra Q4 Profit Rises 4% to Rs 2,754 Cr

New Delhi, May 16 (PTI) Mahindra & Mahindra on Thursday reported a 4 per cent increase in consolidated profit after tax (PAT) to Rs 2,754 crore for the March quarter, driven by strong performance of its automotive and farm sector segments.

The company had posted a consolidated PAT of Rs 2,637 crore in the January-March quarter of the 2022-23 fiscal, M&M said in a regulatory filing.

Revenue increased to Rs 35,452 crore in the fourth quarter, registering a growth of 9 per cent, as compared to Rs 32,456 crore in the corresponding period a year ago, it added.

For the year full year ended March 31, the company posted a consolidated net profit of Rs 11,269 crore as against Rs 9,025 crore in FY23, an increase of 25 per cent.

Revenue rose 15 per cent to Rs 1,39,078 crore in the last fiscal as compared with Rs 1,21,362 crore in FY23.

"It has been an excellent year with most of our businesses delivering a high level of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and Mahindra Finance delivered on asset quality," M&M Managing Director & CEO Anish Shah said.

TechM was a weak spot, the turnaround has commenced with the new organisation in place, he added.

The company said its board has approved a dividend of Rs 21.10 per share of the face value of Rs 5 each.

Shares of the company were trading flat at Rs 2,302.80 apiece on the BSE.