{"id":112805,"date":"2023-10-30T11:31:05","date_gmt":"2023-10-30T06:01:05","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=112805"},"modified":"2023-10-30T11:31:11","modified_gmt":"2023-10-30T06:01:11","slug":"mahindra-group-stock-falls-by-14-after-reporting-41-decline-in-net-profits-in-q2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/mahindra-group-stock-falls-by-14-after-reporting-41-decline-in-net-profits-in-q2\/","title":{"rendered":"Mahindra Group stock falls by 14% after reporting 41% decline in net profits in Q2\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2350391385\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of one of India\u2019s Leading NBFC companies declined by 14.5 percent to Rs 237.35 a share after the company reported weak September quarter financial results.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1824772756\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 11:22 a.m., <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/M&amp;MFIN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Mahindra and Mahindra Financial Services Ltd<\/a><\/strong> shares were trading at Rs 246.80 per share, down Rs 30.70 or 10.94 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 30,993 crore.\u00a0<\/p><p>According to the Company\u2019s exchange filing, the company&#8217;s consolidated net profit declined by 41 percent to Rs 287 crore in Q2FY24 as compared to Rs 492 crore in the corresponding quarter Q2FY23, while revenue improved remarkably by 28 percent to Rs 3,863 crore in the latest quarter as compared to Rs 3,029 crore in the same quarter last year.&nbsp;<\/p><p>In comparison to the previous quarter (Q1FY 23-24), operational revenue has increased by 6 percent from Rs 3,636 crore in Q1FY24 to Rs 3,863 crore in Q2FY24, Further net profit declined by 20 percent from Rs 362 crore to Rs 287 crore.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2199904786\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Net Interest Income of the company is at Rs. 1,674 crore which has increased by 9 percent YoY. Net Interest Margin for the quarter at 6.5 percent was impacted by higher borrowing rates coupled with a change in portfolio mix in favor of better credit quality customers.&nbsp;<\/p><p>The company\u2019s SME asset book is over Rs. 4,637 crore and has grown 26 percent YoY and increased 4.1 percent sequentially. The book contributes 5 percent of the Business Assets.&nbsp;<\/p><p>According to the recent shareholding pattern, the company promoters hold 52.16 percent of the company, Domestic institutional investors hold 25.84 percent and retail investors hold a 7.79 percent stake.&nbsp;<\/p><p>Mahindra &amp; Mahindra Financial Services Limited (MMFSL), a part of the Mahindra Group, is an NBFC primarily engaged in the business of financing the purchase of new and pre-owned auto and utility vehicles, tractors, cars, commercial vehicles, construction equipment, and SME Financing.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1160464044\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of one of India\u2019s Leading NBFC companies declined by 14.5 percent to Rs 237.35 a share after the company reported weak September quarter financial results.&nbsp; At 11:22 a.m., Mahindra and Mahindra Financial Services Ltd shares were trading at Rs 246.80 per share, down Rs 30.70 or 10.94 percent on the National Stock Exchange [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[13758,13759,13757,948,936],"class_list":["post-112805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-mahindra-and-mahindra-financial-services-latest-news","tag-mahindra-and-mahindra-financial-services-results-q2-fy24","tag-mahindra-and-mahindra-financial-services-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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