Mahindra & Mahindra on Thursday reported a 4 per cent increase in consolidated profit after tax (PAT) to ₹2,754 crore for the March quarter, driven by strong performance of its automotive and farm sector segments.

The company had posted a consolidated PAT of ₹2,637 crore in the January-March quarter of the 2022-23 fiscal, M&M said in a regulatory filing.

Revenue increased to ₹35,452 crore in the fourth quarter, registering a growth of 9 per cent, as compared to ₹32,456 crore in the corresponding period a year ago, it added.

For the year full year ended March 31, the company posted a consolidated net profit of ₹11,269 crore as against ₹9,025 crore in FY23, an increase of 25 per cent.

Revenue rose 15 per cent to ₹1,39,078 crore in the last fiscal as compared with ₹1,21,362 crore in FY23.

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"It has been an excellent year with most of our businesses delivering a high level of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and Mahindra Finance delivered on asset quality," M&M Managing Director & CEO Anish Shah said.

TechM was a weak spot, the turnaround has commenced with the new organisation in place, he added.

The company said its board has approved a dividend of ₹21.10 per share of the face value of ₹5 each.

Shares of the company rose 3.05 per cent to close at ₹2,372.85 apiece on the BSE

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