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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