Saturday, May 31, 2014
By Kamal Swami
M&M witnesses marginal profit of Rs. 897 crore during the last quarter of FY 2013-14
Mahindra and Mahindra has posted a marginal increase in standalone net profit at Rs 896.88 crore for the fourth quarter ended March 31. The auto major had posted a profit of Rs 889.19 crore during the same period of 2012-13.Net sales on a standalone basis rose to Rs 10,837.89 crore from Rs 10,353.38 crore, Mahindra & Mahindra said in a filing to the Bombay Stock Exchange.
For the year ended March 31, the company posted a profit of Rs 3,758.35 crore on a standalone basis, up 12.09 per cent from Rs 3,352.82 crore in 2012-13.Net sales rose to Rs 39,963.36 crore for FY14 from Rs 39,903.12 crore a year earlier. On a consolidated basis, the Mumbai-based group posted a profit of Rs 4,666.93 crore for the year, up from Rs 4,099.20 crore in 2012-13.
Group net sales climbed to Rs 72,758.77 crore for the year from Rs 67,338.92 crore previously. The company said the status of Tech Mahindra had changed from a joint venture to an associate in 2013 while Mahindra Forging and Mahindra Hinoday Industries ceased to be subsidiaries in October 2013.Mahindra shares traded at Rs 1,172 on the BSE, down 0.54 per cent.
Source: Business Today