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July-Sept quarter net profit of M&M Financial Services rises 42%
SME News, Saturday, Oct 20, 2012 18:06:37 PM IST
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NEW DELHI: Mahindra & Mahindra (M&M) Financial Services registered an increase of 42 per cent in its consolidated profit at Rs 193 crore for the second quarter ended September 30, as compared to the profit clocked in the similar quarter the previous fiscal. The total income during the quarter increased by 46 per cent to Rs 976 crore.
For the first six months of the current fiscal, the net profit stood at Rs 364 crore recording a growth of 50 per cent compared with the corresponding period last year. Company's total income also increased to Rs 1,862 crore as compared with Rs 1,248 crore in the corresponding period last fiscal.
The company posted a 38 per cent growth, on a standalone basis, in net profit at Rs 188 crore for the quarter ended September 30 compared with the growth recorded in the same period the previous fiscal. The total income of the company grew by 44 per cent during the quarter at Rs 929 crore.
The net profit was at Rs 349 crore during the first half of the current financial year recording a growth of 47 per cent. During the same period, the total income increased to Rs 1,768 crore as compared with Rs 1,206 crore in the corresponding period last year.
