Mahindra

Mumbai, May 28 (UNI) Mahindra and Mahindra Limited (M&M), the fourth largest tractor manufacturer in the world, posted a 20.6 per cent growth in net revenues for the quarter ended March 31 at Rs 3,176.5 crore as against Rs 2632.8 crore for the quarter in previous fiscal.

The group's consolidated revenues for the full year grew 39.7 per cent to Rs 19,436.8 crore (USD 4.5 billion) from Rs 13,908.4 crore (USD 3.1 billion) in previous fiscal while the standalone revenues of M&M for the fiscal escalated by 22.3 per cent to Rs 11,558 crore as against Rs 9,451.4 crore in previous year.

Q4 revenue for the consolidated Mahindra group, which comprises group companies Tech Mahindra, Mahindra Finance, Mahindra Holidays and Mahindra Gesco stood at Rs 5,882.30 crore (USD 1.3 billion) is up by 40.6 per cent over Rs 4,183.9 crore (USD 936.8 million) last year.

The net profit (PAT) for Q4 is up by 37.19 per cent from Rs 175.63 crore to Rs 240.94 crore in the current fiscal, sources said.

''The excellent performances from parent and group companies have well contributed to the company profits while the quarter results also include a one time exceptional charge towards an upfront payment of Rs 524.9 crore by Tech Mahindra Limited.'', said Mahindra and Mahindra Limited Managing Director Anand Mahindra.

The director board, which recommended a 25 per cent dividend to unit holders, also annouced a 15 per cent additional dividend to customers ''in view of the sucessfull listing of Tech Mahindra Limited in bourses''.

Around 39 per cent of the company revenues have been from non M&M companies while the group operations are being planned in each sectors as seperate autonomous entities, added Mr Mahindra.

UNI