The company announced Q4 results during trading hours today, 30 May 2013.
Meanwhile, the S&P BSE Sensex was up 45.84 points or 0.23% at 20,193.48.
On BSE, 3.02 lakh shares were traded in the counter as against average daily volume of 92,000 shares in the past two weeks.
The stock hit a high of RS 1,009 and a low of Rs 958 so far during the day.
The combined gross revenue of Mahindra & Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML) rose 9.8% to Rs 11342.30 crore in Q4 March 2013 over Q4 March 2012. MVML, located at Chakan near Pune in Maharashtra, has been set up as a 100% subsidiary of M&M with a view to source contemporary products for expanding the market offering of M&M.
The operating margin for the combined entity (M&M + MVML) during the quarter improved to 14.4%, from 12% in Q4 March 2012. The good growth in the operating margin and profits of the entity during the quarter was due to a strong sales performance by its Automotive sector and its relentless focus on cost control, M&M said in a statement. The combined net profit of M&M and MVML after exceptional items and tax rose 5.7% to Rs 962.90 crore in Q4 March 2013 over Q4 March 2012.
During the quarter, there was an exceptional profit of Rs 90.60 crore arising from the sale of 34 lakh shares in M&M's subsidiary, Mahindra Holdings and Resorts India. In Q4 March 2012 too, there was an exceptional profit of Rs 108.30 crore arising from the merger with M&M of the automotive business of a M&M subsidiary -- Mahindra Automotive Distributors (MADPL). Also due to this merger, the past unabsorbed tax losses related to automotive business of MADPL became available to M&M and there was a onetime tax saving of Rs 148.50 crore in Q4 March 2012.
The Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
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