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26-Oct2016

M&M Finance soars despite reporting 27% drop in Q2 consolidated net profit

Mahindra & Mahindra Financial Services (M&M Finance) is currently trading at Rs. 370.50, up by 13.70 points or 3.84 % from its previous closing of Rs. 356.80 on the BSE.

The scrip opened at Rs. 345.15 and has touched a high and low of Rs. 381.45 and Rs. 345.15 respectively. So far 608190 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 405.00 on 04-Oct-2016 and a 52 week low of Rs. 173.40 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 381.45 and Rs. 354.40 respectively. The current market cap of the company is Rs. 21041.46 crore.

The promoters holding in the company stood at 51.93%, while institutions and non-institutions held 42.26% and 5.81% respectively.

M&M Finance has reported 35.13% fall in its net profit at Rs 94.82 crore for the quarter under review as compared to Rs 146.18 crore for the same quarter in the previous year. However, total income of the company increased by 5.38% at Rs 1515.68 crore for the quarter under review as compared Rs 1438.31 crore for the corresponding quarter previous year. 

On the consolidated basis, the company has reported 27.41% fall in its net profit after tax and Minority Interest of Rs 114.05 crore for the quarter ended September 30, 2016 as compared to Rs 157.11 crore for the same quarter in the previous year. However, total income of the company increased by 9.70% at Rs 1741.26 crore for quarter under review as compared to Rs 1587.34 crore for the quarter ended September 30, 2015.  


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