Mahindra Finance Q4 net up 12% proposes 100% dividend

Mahindra Finance, financial services arm of Mahindra & Mahindra, recorded 12 per cent rise in net profit at Rs 157 crore for the fourth quarter ended March.

The company had a net profit of Rs 140 crore in the same quarter a year ago.

Its total income rose 27 per cent to Rs 602 crore for Q4, last fiscal, from Rs 475 crore in the same period in 2009-10, Mahindra & Mahindra Financial Services (Mahindra Finance) said in a filing to the Bombay Stock Exchange.

The company proposed a dividend of 100 per cent or Rs 10 per share of face value Rs 10 each.

For the fiscal ended March 31, 2011, the company's net profit registered a growth of 35 per cent at Rs 463 crore as compared to Rs 343 crore in the previous fiscal.

At the same time, total income increased 28 per cent to Rs 1,569 crore.

Source: Business Standard