Total expenses fell 2.7% to Rs 8.18 crore in quarter ended 31 March 2022 as against Rs 8.41 crore spent in the same quarter previous year.

On full year basis, net profit was sharply higher to Rs 142.71 crore in Q4 FY22 as against 8.81 crore in the previous year. The increase in net profit is due to the rise in other income. Other income for the year ended 31 March 2022 includes dividend income on equity shares of Rs 158.96 crore as against Nil during the previous year. Net sales for the year ending March 2022 rose 11.6% to Rs 16.92 crore as against Rs 15.15 crore posted in last year.

Revenue from manufacturing segment declined 21.4% YoY to Rs 5.94 crore in Q4 FY22. Investments segment revenue rose 21% YoY to Rs 4.47 crore in the quarter ending March 2022.

Meanwhile, the board recommended dividend of Rs 80 per equity share for the financial year ended 31 March 2022, subject to approval of shareholders. The said dividend, if declared, by the shareholders at the ensuing annual general meeting, will be credited/dispatched on 29 July 2022 or 30 July 2022.

Maharashtra Scooters is engaged in the business manufacturing dies, Jigs, fixtures and die casting components primarily for automobiles industry etc.

Shares of Maharashtra Scooters were trading 0.27% lower at Rs 3945.30 on BSE.