M&M reports 1.7% rise in Q4 net profit; beats expectations

Mahindra & Mahindra Ltd, India's biggest utility vehicle manufacturer, today reported a 1.7-per cent rise in net profit for the quarter ended March 2013, beating market expectations on the back of higher sales.

M&M, also the world's largest tractor company by sales, said profit for the fiscal fourth quarter was Rs889 crore, against Rs874 crore a year earlier.

Net sales increased increased to Rs10,486 crore, up 11.7 per cent from Rs9,387 crore in the corresponding quarter last fiscal.

The company reported an exceptional gain of Rs90.6 crore. Its other income stood at Rs92.1 crore against Rs 102crore year-on-year.

M&M has declared a special dividend of 50 paise/share.