Mahindra & Mahindra on Tuesday reported a 26.30 per cent year-on-year jump in consolidated net profit for March quarter at Rs 874 crore.
Consolidated gross revenue and other income of the company grew 5.2 per cent year on year to Rs 12,889 crore.
During the quarter, the company sold 46,583 tractors in the domestic market, indicating a growth of 13.30 per cent on a YoY basis. The company exported 10,831 units during the quarter.
The board of directors of the company has recommended a dividend of Rs 13 per share of face value of Rs 5 per share.
“The outlook for 2017-18 is much more robust with a favourable domestic and global backdrop. Monsoon forecast is normal for the second consecutive year which bodes very well for demand recovery,” Mahindara & Mahindra said in a release.
At the end of Tuesday’s session, shares of Mahindra & Mahindra closed at Rs 1362, up 0.82 per cent on BSE.
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