›M&M and MVML Q4 results: Companies report combined net profit of Rs 163 cr, beat estimates; to pay Rs 8.75 dividend
M&M and MVML Q4 results: Companies report combined net profit of Rs 163 cr, beat estimates; to pay Rs 8.75 dividend
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M&M and MVML Q4 results: Companies report combined net profit of Rs 163 cr, beat estimates; to pay Rs 8.75 dividendETMarkets.com
Last Updated: May 28, 2021, 02:44 PM IST
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Synopsis
M&M and MVML’s combined revenues in the quarter rose 48 per cent on-year to Rs 13,338 crore, reflecting the strong demand environment for tractors and automotives.
Agencies
The company’s board also approved a final dividend worth Rs 8.75 per share for the financial year ended March 2021.
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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Atul P.M. and here are the top headlines at this hour.
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LAKELAND Governor Ron DeSantis is calling on President Biden to approve a Florida plan to import Canadian drugs that was developed under the Trump adminstration.
DeSantis called a news conference at a Lakeland warehouse built to accommodate those Canadian prescription medicines. Right now, it stands empty. We want to get that final approval because that gets all this stuff in motion, and we re finally able to realize some savings , DeSantis said. He added that the plan could save the state from 80 to 150 million dollars.
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Mahindra & Mahindra, on Friday, reported consolidated profit of Rs 163 crore for the March quarter of 2020-21 (Q4FY21), which was impacted by one-time loss of Rs 840 crore. In comparison, M&M had reported a loss of Rs 3,255 crore in the year-ago quarter.
The company has also announced highest-ever dividend of Rs 8.75 per share for FY21, to commemorate the 75th year of the company. M&M s revenue grew 48 per cent on a year-on-year (YoY) basis to Rs 13,338 crore from Rs 9,005 crore reported in the corresponding quarter last year. Analysts at Emkay had expected M&M to report Q4 revenue at Rs 13,001.5 crore while net profit was pegged at Rs 1,012.8 crore.