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M&M Financial net up by 35.8pct in Oct-Dec
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Monday, 21 Jan 2013
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PTI reported that Mahindra & Mahindra Financial Services today reported 35.8% jump in consolidated net profit at INR 216.8 crore for the October to December quarter of the current fiscal, helped by strong revenue growth.

The non banking finance company had a consolidated net profit of INR 159.6 crore in the corresponding quarter of the previous fiscal.

Mahindra & Mahindra in a filing to the Bombay Stock Exchange said that “The company maintained healthy growth of business and profits despite slowdown in auto and tractor industry growth and continuing high cost of borrowings.”

Total consolidated income of the company rose by 38.4% to INR 1,057.32 crore in the Q3 of 2012-13, from INR 763.93 crore in the year ago period.

During the 9 month period ended December 31st 2012, the company registered a disbursement growth of 21% against the corresponding period last year, thereby maintaining its leadership position for vehicles and tractors in the rural and semi-urban markets.

Source - PTI


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