Mahindra & Mahindra on Monday reported a 14.4% rise in consolidated net profit at Rs 668 crore for the quarter to March driven by better margin and higher sales and sounded bullish about tractor sales. During the year, group companies like Tech Mahindra and Mahindra Holidays improved performance. M&M Group consolidated income for the full year rose 10% Rs 83,207 crore, while consolidated profit after tax inched up to Rs 3,211 crore from Rs 3,137 crore. For the full year ended March 2016, total income inched up a tad over 7% to Rs 43,918 crore, while net profit declined to Rs 3,298 crore, from Rs 3,423 crore in 2014-15. The board recommended a final 240 per cent dividend or Rs 12 per share which will see an outgo of Rs 841.7 crore.

Source: dna May 30, 2016 15:31 UTC