The auto major had posted a profit of Rs. 889.19 crore during the same period of 2012-13.
Mahindra & Mahindra (M&M), on Friday, reported a 12 per cent rise in its standalone net profit at Rs.3,758.35 crore for the year ended March 31, 2014, on a marginally higher net sales of Rs. 39,963.36 crore (Rs.39,903.12 crore).
Excluding the merger impact, the net profit is at Rs.3,766.30 crore. The board of directors has recommended a dividend of Rs.14 a share of Rs.5 each, including a special dividend.
For the fourth quarter, the company posted a marginal rise in its standalone net profit at Rs.896.88 crore aginst Rs.889.19 crore in the same quarter of the previous year.
The company’s net sales on a standalone basis rose by 5 per cent to Rs. 10,837.89 crore.
During the quarter, the scheme of arrangement for the merger of the trucks business of M&M’s subsidiary, Mahindra Trucks and Buses Ltd. (MTBL), with M&M was approved by the High Court, Bombay, and as a result, the financials of MTBL became a part of M&M’s financials.
Excluding the merger impact, the net profit is at Rs.904.80 crore.
Pawan Goenka, President (automotive, farm equipment and two wheeler sectors), M&M, said, “last year was a reasonably good year for us although it was challenging for the automobile industry with a 9.5 per cent de-growth, the worst since 1976.’’
M&M’s share in the pick-up segment grew to 63.9 per cent (54 per cent) but its share in the utility vehicle segment dropped 4 per cent.
The company makes XUV 500 and Maxximo vehicles at Chakan, and has planned a Rs.4,000-crore investment there over the next five years on a new plant or expansion to hike the capacity to 250,000-300,000 units.
Its investment plan over three years is at Rs.10,000 crore with Rs.7,500 crore in capacity expansion and Rs.2,500 crore in terms of investment. Mr. Goenka said he maintained the forecast of 8-10 per cent growth in both the automobile and tractor industries in 2014-15.