On Friday, Mahindra and Mahindra has reported 38.61 percent decline in the standalone net profit at Rs 550.56 crore for the fourth quarter ended March 31.

Mahindra and Mahindra said in a filing to Bombay Stock Exchange (BSE) that the company has posted a net profit of Rs 896.88 crore in the corresponding period of the previous fiscal.

“In the fourth quarter, Mahindra & Mahindra along with its wholly-owned arm Mahindra Vehicle Manufacturers (MVML) sold 57,027 utility vehicles, while tractor sales stood at 34,682 units”, the company said.

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