M&M Q4 results: Reports Rs 3,255 crore loss
Published On: Friday, June 12, 2020 | By: Team KnowMyStock
Mahindra & Mahindra on Friday posted a consolidated net loss of Rs 3,255 crore for the quarter ended March 31. It had reported a net profit of Rs 969 crore in the corresponding quarter last year. The company's revenue also declined 35 per cent on a year-on-year (YoY) basis to Rs 9,004.72 crore from Rs 13,807.88 crore reported in the corresponding quarter last year. The Board has recommended a dividend of Rs 2.35 per share of face value Rs 5. The sales were affected due to the lower industry volumes in both automotive and tractor segments due to lockdown due to the COVID-19 situation. Mahindra & Mahindra reported a standalone loss of ₹2,510 crores for Q4FY20 on account of booking impairment provision for certain long-term investment to the tune of ₹2,780 crores during the period. M&M’s standalone net profit was at ₹841 crores in the year-ago period.
The company said profit after tax (PAT) was primarily impacted due to write down of investment in Ssangyong and some other international subsidiaries. It said it was re-examining the business outlook of other International subsidiaries, "in view of the current environment, to decide on future capital allocation".
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