Mahindra & Mahindra: Mahindra reports net loss of Rs 3,255 crore in Q4

The corporate together with Mahindra Vehicle Manufacturers Ltd (MVML) had posted a web revenue of Rs 969.25 crore for the January-March interval of 2018-19. Income from operations declined to Rs 9,004.72 crore in the course of the fourth quarter in contrast with Rs 13,807.88 crore in the identical interval of corresponding fiscal, M&M mentioned in a regulatory submitting. The corporate mentioned it offered 86,351 autos within the fourth quarter, down 47 per cent from 1,63,937 models gross sales within the fourth quarter of 2018-19. For 2019-20 fiscal, the corporate reported a web revenue of Rs 739.71 crore in opposition to Rs 5,401.18 crore in 2018-19. Web income from operations for the fiscal stood at Rs 44,865.52 crore as in opposition to Rs 52,848.21 crore in 2018-19. On a standalone foundation, the auto main reported a web lack of Rs 2,502 crore for the fourth quarter as in contrast with a web revenue of Rs 849 crore within the January-March interval of 2018-19. The standalone web revenue for 2019-20 fiscal stood at Rs 1,331 crore as in opposition to Rs 4,796 crore in 2018-19.

COVID scenario,” M&M mentioned. On the outlook, the corporate mentioned that with easing of restrictions there shall be a ramp up in manufacturing, provide chain and distribution from June onwards, which is able to support financial exercise. Whereas the general providers and manufacturing sectors are more likely to see a slower restoration, the agriculture/farm gear sector shall be comparatively much less impacted, aided by a number of optimistic elements resembling report Rabi manufacturing, higher government procurement, well timed announcement of upper MSPs and outlook of a traditional monsoon, it added.

The city section could take longer to come back again to normalcy,” M&M mentioned. Having mentioned that, whereas the outlook is closely contingent upon the depth, period and unfold of the pandemic, a clean normalization and efficacy of coverage measures would be the key to any restoration within the present fiscal, it added. The corporate’s board, which met on Friday, advisable a dividend of Rs 2.35 (47%) per share of face worth Rs 5 every for 2019-20 fiscal.