Tractor and utility major, Mahindra and Mahindra has reported a profit after tax of Rs 889 crores for the quarter ending March 31, 2013, way ahead of street expectations. The EBIDTA for the same period was placed at Rs 1270 crores, while the operating profit margin improved to 12.1 per cent.
The board of the company has recommended a Dividend of Rs. 12.50 (250%) per Ordinary (Equity) Share and also a Special Dividend of Re. 0.50 (10%) per Ordinary (Equity) Share aggregating Rs. 13 (260%) per Ordinary (Equity) Share of the face value of Rs. 5 each.
The stock of Mahindra and Mahindra was trading 4% higher at Rs 999.