Mahindra & Mahindra on Monday reported a 6.36 per cent
increase in net profit for the quarter ended March 31, at Rs 606.54 crore.
The company had posted a net profit of Rs 570.26 crore in the same quarter a year ago, the company said.
Total income during the fourth quarter of 2010-11 stood at Rs 6,825.57 crore, against Rs 5,322.75 crore in the same period a year ago, it added.
For the year ended March 31, net profit stood at Rs 2,662.10 crore, compared to Rs 2,087.75 crore in the previous financial year, it said. Total income for the year 2010-11 stood at Rs 23,803.24 crore, compared to Rs 18,801.46 crore in the previous year, it added.
The group posted a consolidated net profit of Rs 3,079.73 crore for the year ended March 31, compared to Rs 2,478.56 crore for the previous financial year.
Consolidated total income increased to Rs 37,026.37 crore for the year ended March 31, from Rs 31,687.97 crore in the previous year.
Mahindra & Mahindra scrips were trading at Rs 674.50 per share on the Bombay Stock Exchange during afternoon trade, down 3.93 per cent from the previous close.
In a filing to the Bombay Stock Exchange, Mahindra & Mahindra said its Board of Directors at a meeting held on Monday have recommended a 230 per cent dividend at Rs 11.50 per ordinary share of the face value of Rs 5 each.
It includes 210 per cent dividend of Rs 10.50 per ordinary share and also a 20 per cent special dividend of Re 1 per ordinary share, the company said.
The special dividend is being recommended in view of the profit made by the Company on the sale of its entire holdings of Owens Coming (India) Ltd, it said.
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