M&M Q4 PAT Rises 32% YoY to Rs 2,038 Cr; Co Declares Dividend of Rs 21.10 Per Share
Mahindra and Mahindra on Thursday reported a 31.58% increase in its standalone net profit to 2,038 crore rupees in Q4 FY24. Sequentially, revenue from operations increased by 11.24% to 25,108.97 crore rupees in Q4 FY24 compared to Q4 FY23.
Key Takeaways from Mahindra and Mahindra’s Performance:
- Standalone net profit stood at 2,038 crore rupees up 31.58%.
- Revenue from operations increased by 11.24% to 25,108.97 crore rupees.
- The company declared a dividend of Rs 21.10 per equity share.
- EBITDA for the quarter grew 21.72% to 3,446 crore rupees.
The company declared a dividend of Rs 21.10 per equity share.
EBITDA for the quarter grew 21.72% to 3,446 crore rupees in the fourth quarter ending March 2024 from 2,831 crore rupees posted in Q4 FY23.
M&M sold 2,15,280 vehicles in Q4 FY23, recording a growth of 14% against 1,89,227 vehicles sold in the same quarter a year ago. Total tractors sold in Q4 FY24 stood at 71,039 units, down 20% on year. Further, the company’s revenue from the auto segment was 19,910.34 crore rupees.
Anish Shah, MD and CEO of the company said, “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. TechM was a weak spot, the turnaround has commenced with the new organization in place. Growth gems are performing well, with Susten and LMM leading the way. We also made significant progress on sustainability, diversity and our efforts on women empowerment.”
About Mahindra and Mahindra Limited:
Mahindra & Mahindra Limited, established in 1945, is an automobile manufacturing company in Mumbai Maharashtra. M&M is one of the largest vehicle manufacturers by production in India. Its unit, Mahindra Tractors, is the largest manufacturer of tractors in the world by volume. The company has a presence in major industries such as automotive, aerospace, agri-business, aftermarket, information technology, consulting, components, clean energy, and financial services among others.
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