Mahindra Finance net profit jumps 87% to Rs 588 cr in Q4FY19

Mahindra Finance on Wednesday reported an 87 per cent rise in net profit to Rs 588 crore for the fourth quarter ended March 2019. The company's standalone net profit had stood at Rs 314 crore in the corresponding quarter a year ago.

Its total income increased to Rs 2,480 crore as compared with Rs 1,808 crore in the year-ago quarter, Mahindra Finance said in a release. The board has recommended a dividend of Rs 4 or 200 per cent per share and also a special dividend of Rs 2.50 aggregating Rs 6.50 per share of the face value of Rs 2 each for the financial year ended March 31, 2019.

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The special dividend is being recommended in the light of successful completion of 25 years of the company's business operations.