Automobile Major Records Flat Q4 Net Profit; Declares Dividend Of Rs 16.25 Per Share

The renowned Indian multinational vehicle manufacturer, Mahindra & Mahindra (M&M), announced a flat net profit sequentially while simultaneously declaring a dividend of Rs 16.25 per share.

M&M's standalone profit after tax (PAT) increased by 22% to Rs 1,549 crore for the quarter ended March 31, 2023. In the previous fiscal quarter, it was Rs 1,269 crore, and in the December quarter, it was Rs 1,528 crore.

On a consolidated basis, the company's FY23 profit increased 56 percent to an all-time high of Rs 10,282 crore, driven by successful mega launches in automotive, steady growth in farm equipment, strong operating performance in financial services, and value unlocking through monetisation/partnerships.
Revenue for the quarter under review increased by 31% to Rs 22,571 crore, with strong volume trend across all main businesses. In the previous fiscal quarter, it was Rs 17,238 crore.
Operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), increased 44.5 percent year on year to Rs 2,797 crore for the January-March quarter of FY23, from Rs 1,936 crore in Q4FY22, while margins increased by 120 basis points to 12.4 percent from 11.2 percent.
For fiscal FY23, the Board has recommended a dividend of Rs 16.25 per Ordinary (Equity) Share with a face value of Rs 5 each. The dividend, as recommended by the board and as declared at the AGM, will be paid to shareholders after August 4, 2023.