Mahindra Net Profit Jump Nine Fold

Mahindra and Mahindra has reported a net jump of 89.9 percent in its net profit for quarter that ended on March 31, 2009. The net profit stands at Rs 418.07 Crore compared to Rs 221.10 Crore in the same period last year.

Encouraged by the response, the President for Automotive wing, Mahindra and Mahindra, Mr. Pawan Goenka told reporters "We plan to invest Rs 5,000 Core over the next four years and also launch several new vehicles."

Mahindra will be investing Rs 2,500 Crore in its Chakan Plant and which will have a capacity to produce 2.5 lakh units annually. The company also plans to expand its model range in the year 2010.

The board declared a dividend of 100 percent at the rate of Rs 10 a piece, on shares of the face value of Rs 10 each.

The company recorded an increase in gross revenue and other incomes to Rs 4,171Crore in the same period against Rs 3,666 Crore during the corresponding period last year.

Mahindra and Mahindra markets India's three leading SUVs Scorpio, Bolero and Xylo. It also offers special customizable options on these vehicles.

Source: http://www.carazoo.com/newcars/make/Mahindra