Mahindra & Mahindra Financial Services Ltd. reported fourth-quarter stand-alone net profit of Rs.333.81 crore up by 47 percent from the Rs.227.69 crore for the quarter ended March 31 last year.
Profit for the quarter included a gain of Rs.28 crore arising from exceptional item on account of profit on stake sale of its subsidiary MIBL amounting to Rs.64 crore and additional general provision on standard assets amounting to Rs.36 crore on prudent basis with effect from current year.
Quarterly income from operations rose by 32 percent to Rs.1,110.29 crore from the Rs.839.27 crore in the corresponding quarter of the preceding year, while other income was Rs.15.28 crore, compared with Rs.7.72 crore in Q4FY12.
For the fiscal year, the company's stand-alone net profit stood at Rs.882.69 crore, compared with Rs.620.12 crore in 2012, an increase of 42 percent. Total income, including other income, increased by 39 percent to Rs.3,894.70 crore from the Rs.2,794.59 crore last year.
On a consolidated basis, the company posted fourth-quarter net profit, after minority interest, of Rs.346.37 crore, higher by 43 percent than the Rs.242.39 crore in the year-ago quarter. Total income, including other income, grew by 33 percent to Rs.1,189.33 crore from the Rs.891.86 crore in Q4FY12.
For the full year, its consolidated alone net profit, after minority interest,totaled Rs.927.04 crore, higher by 44 percent than the Rs.643.50 crore a year-ago. Total income, including other income, increased by 41 percent to Rs.4,112.96 crore from the Rs.2,910.32 crore last year.
The company said its board recommended a dividend of 180 percent or Rs.3.60 per equity share of Rs.2 each for the fiscal year 2013, which includes a special dividend of Re.0.20. The dividend will be paid between July 26 and August 02, 2013 for those whose names appear in the books as on close of the business hours on July 05.
At the BSE, Mahindra & Mahindra Financial closed Tuesday's trading at Rs.206.05, down 2.94 percent from the previous close.
For comments and feedback: editorial@rttnews.com