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Mahindra Finance Q3 net rises 16% to Rs 475 cr

Jan 28, 2020, 19:15 IST

PTI

New Delhi, Jan 28 () Mahindra & Mahindra Financial Services Ltd on Tuesday reported 16 per cent rise in its consolidated net profit to Rs 475 crore in the third quarter ended December 31.

The company had posted a net profit of Rs 409 crore in the similar quarter previous fiscal.

The consolidated income of the company was up 14 per cent at Rs 3,081 crore in the October-December quarter of 2019-20 compared to Rs 2,705 crore in a year ago, it said in a release.

On standalone basis, the net profit increased by 14 per cent to Rs 365 crore as against Rs 319 crore. The income grew by 16 per cent to Rs 2,616 crore from Rs 2,246 crore.

Mahindra Finance provides financial services in the rural and semi-urban markets in the country.

Stock of the company closed flat at Rs 352.25 on the BSE. KPM KPM BAL BAL

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