Categories: Business

Mahindra & mahindra reports q4 net loss 3255 crore

Photo: PTI

Mahindra & mahindra q4 result

new Delhi. Vehicle maker Mahindra & Mahindra (M&M) reported a loss of Rs 3,255 crore for the quarter ended 31 March 2020. The company had a net profit of Rs 969 crore in the same period of 2018-19 with Mahindra Vehicle Manufacturers Limited. The company told the stock market that income from operations during the quarter declined to Rs 9,005 crore as compared to Rs 13,808 crore a year ago. The company said that it had sold 1,63,937 units in the fourth quarter of 2018-19. It fell by 47 percent to 86,351 vehicles in the fourth quarter of 2019-20.

The company had a net profit of Rs 740 crore as against Rs 5,401 crore in 2018-19 for the entire 2019-20 financial year. During this period, income from operations also stood at Rs 44,865 crore as against Rs 52,848 crore. The company incurred a loss of Rs 2,502 crore in the fourth quarter on a standalone basis, as against a net profit of Rs 849 crore in the year-ago quarter. On a single basis, net profit for the entire financial year has come down from Rs 4,796 crore in 2018-19 to just Rs 1,331 crore in 2019-20.

The sale was impacted by the adoption of the new emission standard Bharat Stage-6 in both the automotive and tractor categories, and the subsequent lockdown imposed due to the corona virus epidemic, the company said. It also affected the outcome. "The company further said that with the easing of restrictions, production, supply chain and distribution are starting to improve with passion. This will accelerate economic activity. The board of directors of the company in its meeting on Friday recommended a dividend of Rs 2.35 for 2019-20.

This post was published on June 12, 2020 5:42 pm

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