M&M Q4 results: PAT rises 22% to Rs 1,549 crore; board recommends 325% dividend
Mahindra & Mahindra (M&M) Q4 results: M&M reported a 22.1 per cent year-on-year increase in standalone net profit to Rs 1,549 crore for the quarter ended March 2023, missing analysts estimates. Its revenue, however, grew 30.9 per cent to Rs 22,571.4 crore, which was higher than market expectations.
Mahindra & Mahindra (M&M) on Friday reported a standalone net profit of Rs 1,549 crore for the quarter ended March 2023, missing analysts' estimates. The quarterly net profit marked an increase of 22.1 per cent compared with the corresponding period a year ago.
Its revenue grew 30.9 per cent on a year-on-year basis to Rs 22,571.4 crore, according to a regulatory filing.
According to Zee Business research, the auto major — whose popular models include Scorpio-N, XUV 700, Thar and XUV300 — was estimated to report a standalone net profit of Rs 1,700 crore and revenue of Rs 22,100 crore.
Mahindra & Mahindra shares gave up all of their intraday gains minutes after the earnings announcement, trading flat at Rs 1,278 apiece on BSE at 2:10 pm in contrast to a 0.9 per cent gain in Sensex.
Mahindra & Mahindra shares: Past performance
M&M shares finished the March quarter with a gain of 7.2 per cent, as against a 4.1 per cent decline in the headline Nifty index. The Nifty Auto index dropped 2.9 per cent during this period.
(This story will be updated shortly)
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