Mahindra & Mahindra (M&M) has reported a marginal increase in its standalone net profit for the fourth quarter ended March 31, 2013 at Rs 889.19 crore
The company had posted a standalone net profit of Rs 874.48 crore in the same period previous financial year.
During the quarter, the company said it posted 23 per cent growth in
sales of passenger utility vehicles at 72,076 units, while it sold a total of 3,737 units of its sedan Verito.
"Standalone net income from operations during the period under review stood at Rs 10,486.53 crore, against Rs 9,380.84 crore in the year-ago quarter," a statement from the auto major said.
Tractor sales were, however, down to 46,107 units, against 48,517 units in the year-ago period.
The company said its board has recommended 250 per cent dividend of Rs 12.50 per share and a special 10 per cent dividend of 50 paisa per share of face value Rs 5, aggregating Rs 13 per share totalling an outgo of Rs 891.15 crore.
For the entire 2012-13 financial year, M&M's standalone net profit rose to Rs 3,352.82 crore from Rs 2,878.89 crore in 2011-12. Its income from operations during FY13 stood at Rs 40,441.16 crore, against Rs 31,847.19 crore in the previous financial year.
Commenting on the outlook, the company said the additional 3 per cent excise duty imposed on SUVs may affect margins going forward. "Also the auto industry is witnessing a general slowdown, which again calls for some caution in future," M&M said.
M&M shares jumped 4.61 per cent on Thursday to close at Rs 1,004.60 on the Bombay Stock Exchange.
PHOTO: Reuters 
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