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Mahindra Finance declines on reporting marginal fall in Q4 consolidated net profit
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Mahindra & Mahindra Financial Services is currently trading at Rs. 264.75, down by 2.20 points or 0.82 % from its previous closing of Rs. 266.95 on the BSE.
The scrip opened at Rs. 273.40 and has touched a high and low of Rs. 273.50 and Rs. 264.15 respectively. So far 226693 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 243.90 on 30-Oct-2023.
Last one week high and low of the scrip stood at Rs. 273.50 and Rs. 259.00 respectively. The current market cap of the company is Rs. 32741.54 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.57% and 7.27% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has reported results for fourth quarter (Q4) and year ended March 31, 2024.
The company has reported 9.52% fall in its net profit at Rs 618.99 crore for the quarter under review as compared to Rs 684.12 crore for the same quarter in the previous year. However, total income of the company increased by 21.25% at Rs 3,706.10 crore for Q4FY24 as compared Rs 3,056.67 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 0.63% fall in its net profit at Rs 670.64 crore for fourth quarter ended March 31, 2024 as compared to Rs 674.92 crore for the same quarter in the previous year. However, total income of the company increased by 22.53% at Rs 4,332.94 crore for Q4FY24 as compared Rs 3,536.35 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the company has reported 11.32% fall in net profit at Rs 1,759.62 crore as compared to Rs 1,984.32 crore for the previous year. However, total income of the company increased by 22.67% at Rs 13,562.42 crore for year under review as compared to Rs 11,056.09 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the company has reported 6.19% fall in its net profit at Rs 1,943.05 crore as compared to Rs 2,071.20 crore for the previous year. However, total income of the company increased by 24.45% at Rs 15,970.32 crore for year under review as compared to Rs 12,832.40 crore for year ended March 31, 2023.
