M&M Q4 net profit up 6.5% at Rs 607 cr

Mahindra & Mahindra (M&M), country's top utility vehicle maker, reported a 6.3% rise in net profit for the quarter ended March 31, 2011, at Rs 606 crore ($134 million) as compared to Rs 570 crore in the corresponding quarter last year.

The company also reported a 27.5% jump in its net profit for the fiscal year ended March 31, 2011. The net profit stood at Rs 2,662.1 crore against Rs 2,087.8 crore in the previous year.

On the other hand, the gross revenues and other income of the company stood at Rs 25,896 crore as against Rs 20,595.5 crore in the previous year, a growth of 25.7%.

Earlier this year, Mahindra said it had completed all formalities related to the acquisition of a majority stake in Ssangyong Motor and will boost product development and brand spends at the South Korean sport utility vehicle maker.

At the close of market hours, M&M was the top loser on Sensex, shedding over 5% and closing at Rs 664.05 today.