M&M reports Rs 3,255 crore loss in Q4FY20 on one-time impairment provisions

The company's revenue also declined 35 per cent on a YoY basis to Rs 9,004.72 crore

Mahindra & Mahindra reported consolidated loss of Rs 3,255 crore for the March quarter of 2019-20 (Q4FY20) , which the company attributed to "impairment provision for certain long-term investments". The company's revenue also declined 35 per cent on a year-on-year (YoY) basis to Rs 9,004.72 crore from Rs 13,807.88 crore reported in the corresponding quarter last year. the Board has recommended a dividend of Rs 2.35 per share of face value Rs 5.

Analysts at Axis Capital had expected M&M to report profit of Rs 480 crore for the quarter while revenue was pegged at Rs 8,660 crore.