M&M’s Q4 standalone net profit up more than 70%

M&M’s Q4 standalone net profit up more than 70%
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Mumbai: Mahindra and Mahindra on Tuesday reported a rise of more than 70 per cent in its standalone net profit for the fourth quarter of 2017-18.

According to the company, its standalone net profit during the quarter under review increased to Rs 1,059 crore from Rs 622 crore reported for the corresponding period of 2016-17.

In terms of the financial year, M&M’s net profit rose 19.57 per cent in its standalone net profit to Rs 4,356 crore from Rs 3,643 crore earned during the previous fiscal.

“The Board of Directors has recommended a post bonus dividend of Rs 7.50 (150 per cent) per share of face value Rs 5 and will be paid to those shareholders whose names stand registered in the books of the company as on the book closure date,” the company said in a statement.

IANS