M&M Q4 PAT grows 18% to ₹2,637 crore, FY23 PAT up 56% at ₹10,282 crore
The Hindu
Mahindra & Mahindra Ltd. (M&M) reported that its fourth quarter consolidated net profit grew 18% to ₹2,637 crore from the same quarter last year led by enhanced profit from its auto and farm divisions. Profit from its hospitality and real estate businesses also contributed to the growth in profits.
Mahindra & Mahindra Ltd. (M&M) reported that its fourth quarter consolidated net profit grew 18% to ₹2,637 crore from the same quarter last year led by enhanced profit from its auto and farm divisions. Profit from its hospitality and real estate businesses also contributed to the growth in profits.
For the fourth quarter ended March 31, 2023 the company’s consolidated revenue increased 25% to ₹32,366 crore.
For the full financial year, the company reported 56% growth in net profit at ₹10,282 crore compared to the previous year. Revenue increased 34% to ₹1,21,269 crore from the previous year, and this is the first time that annual PAT has crossed the ₹10,000 crore mark.
The board has announced a dividend of ₹16.25 per share, up 41%.
On a standalone basis the company reported Year on Year (YoY) growth of 22% in net profit at ₹1,549 crore. Annual net profit grew 34% YoY.
In the fourth quarter the company sold 1,89,227 vehicles, up 21% YoY. Tractor sales surged 24% to 89,128 units.
For the full year, the company reported 50% growth in vehicle sales YoY at 6,98,456 units. Tractor sales grew 15% YoY to 4,03,981 units.
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