Mumbai: Mahindra & Mahindra (M&M), in its standalone financial result, has posted a 20% year-on-year (YoY) decline in Q4FY19 profit after tax (PAT), which stood at 849 crore as against 1,059 crore from the year ago period.

Q4FY19 PAT has declined 21% on quarter-on-quarter (QoQ) basis. The company’s Q3FY19 PAT stood at 1,077 crore. The decline is due to a sharp rise in its total expenses, which stood at 12,950 crore during Q4FY19. It rose 8% YoY over Q4FY18 when total expenses were at 11,986 crore. M&M’s standalone financial results suggest that the increase in total expenses came on the back of rising costs of material consumed, which stood at 7,413 crore, up 19% YoY and 22% QoQ.

M&M’s net standalone revenues for Q4FY19 are reported at 14,035 crore, up 5.5% YoY. The company’s revenues from the automotive and farm segments stood at 10,442 crore (up 13% YoY) and 3,206 crore (down 14% YoY) respectively.

For FY19, M&M’s standalone revenue stood at 53,614 crore, up 8.43% YoY. PAT for the year ended March 2019 stood at 4,796 crore, up 10.10% YoY. M&M’s reserves and surplus has increased from 29,699 crore in FY18 to 33,613 crore in FY19.