M&M announces final dividend of Rs 21 for financial year 2024
Dividend on Ordinary (Equity) Shares for the year ended 31st March, 2024, as recommended by the Board of Directors and as may be declared at the AGM, will be paid/dispatched after 31st July, 2024 to those Shareholders or their mandates,” said the company filing to the exchanges.
M&M announced its Q4 results wherein the company has reported a 32% year-on-year (YoY) spike in its profit to Rs 2,038 crore while the revenue from operations in the reporting period rose 11% YoY to Rs 25,109 crore, compared with Rs 22,571 crore in the corresponding period of last year.
A release by the company stated that Mahindra & Mahindra reported solid operating performance across multiple businesses in FY24.Farm improved market share in a declining industry. Financial services made strong progress on asset quality with record low GS3. Growth gems progressed well on the 5x challenge with continued value unlocking.
Also read: M&M Q4 Results: Profit spikes 32% YoY to Rs 2,038 crore, revenue jumps 11%
“It has been an excellent year with most of our businesses delivering high levels of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and Mahindra Finance delivered on asset quality. TechM was a weak spot, the turnaround has commenced with the new organization in place. Growth gems are performing well, with Susten and LMM leading the way. We also made significant progress on sustainability, diversity and our efforts on women empowerment”, commented Anish Shah, MD & CEO, on the Q4 and FY24
