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M&M Finance’s First Quarter Profit Declines 2%

M&M Finance Reports Muted Q1 Earnings, Profit Falls 2%

Azman Usmani
Mahindra & Mahindra Financial Services Ltd. signage is displayed outside one of the company’s branches in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)  

Mahindra and Mahindra Financial Services Ltd. reported June quarter earnings that trailed consensus estimates compiled by Bloomberg.

Net profit declined 2.2 percent year-on-year to Rs 87 crore, the company said in its press release. This was way below the Bloomberg consensus estimate of Rs 131.9 crore. Revenue increased 0.4 percent to Rs 1,366.2 crore, compared to Rs 1,360.8 crore in corresponding quarter last year.

M&M Financial shares slumped as much as 4 percent post the announcement, but recovered to close flat for the day.

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M&M Finance Intra-day Chart. (Source: Bloomberg)
M&M Finance Intra-day Chart. (Source: Bloomberg)
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Azman Usmani
Azman Usmani is a senior correspondent at BQ Prime. He reports on climate c... more
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