{"id":39650,"date":"2022-05-02T20:24:10","date_gmt":"2022-05-02T14:54:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-results-mahindrafin\/"},"modified":"2022-05-02T20:26:47","modified_gmt":"2022-05-02T14:56:47","slug":"biz-results-mahindrafin","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-mahindrafin\/","title":{"rendered":"Mahindra Finance Q4 Results: Consolidated net profit up over two-fold at Rs 629 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3347503293\"><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>Mahindra &amp; Mahindra Financial Services (Mahindra Finance) on Monday reported an over two-fold increase in consolidated net profit at Rs 629 crore for the quarter ended March 2022 as a drop in bad loans helped in credit cost reversal.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3062655706\"><!-- 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>\n<p>The company&#8217;s net profit stood at Rs 219 crore in the same quarter a year ago.<\/p>\n<p>Total income during the January-March period of 2021-22, however, declined by 5 per cent at Rs 2,897 crore, as against Rs 3,038 crore in the year-ago quarter, the company said in a release.<\/p>\n<p>On standalone basis, the net profit in the March quarter of FY22 rose to Rs 601 crore from Rs 150 crore in Q4 FY21.<\/p><div class=\"trade-content_5\" id=\"trade-2278156365\"><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>\n<p>A reduction in GS-3 (gross stage 3 or gross NPAs) led to significant credit cost reversal, it said.<\/p>\n<p>&#8220;The gross stage 3 showed significant improvement from 11.3 per cent in December to 7.7 per cent in March, thereby releasing Rs 951 crore from the stage 3 provisions,&#8221; it said.<\/p>\n<p>For the full year 2021-22, company&#8217;s consolidated net profit jumped by 47 per cent to Rs 1,150 crore, as against Rs 780 crore in preceding fiscal year 2020-21, Mahindra Finance said.<\/p>\n<p>However, the total income fell by 6 per cent to Rs 11,400 crore from Rs 12,171 crore.<\/p>\n<p>The non-banking finance company said an increase in equity stake in Mahindra Ideal Finance Limited (MIFL) (erstwhile Ideal Finance Limited) from 38.2 per cent to 58.2 per cent during second quarter has resulted in revaluation of the company&#8217;s existing equity stake in MIFL.<\/p>\n<p>This has led to a one-time revaluation gain of Rs 21 crore, which is shown as exceptional item in the full-year consolidated financials.<\/p><div class=\"trade-content-10\" id=\"trade-1869689762\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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>\n<p>Mahindra Finance said the business environment has returned to normalcy and disbursement trends indicate rural demand and volumes being back to pre-COVID levels. Contact intensive businesses have reopened and there has been better visibility on cash flows &#8212; both from farm and infrastructure segments.<\/p>\n<p>These have led to increase in disbursements for the quarter at Rs 9,202 crore, a 54 per cent growth year-on-year. Collection efficiency during the quarter stood at 100 per cent, with March clocking 109 per cent.<\/p>\n<p>In the tractor and Mahindra UV (utility vehicles) financing segments, the company continues to maintain leadership position, it added.<\/p>\n<p>With regard to business trend in April, the company said it estimates total disbursement of about Rs 2,750 crore, delivering about 109 per cent growth over the year-ago month, primarily due to a much lower base in 2021, which was impacted severely by the second wave of COVID-19.<\/p>\n<p>The company continued to hold adequate liquidity buffer of Rs 8,700 crore which covers about three months&#8217; funds requirement, Mahindra Finance said. PTI KPM KPM ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-833412100\"><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>Mahindra &amp; Mahindra Financial Services (Mahindra Finance) on Monday reported an over two-fold increase in consolidated net profit at Rs 629 crore for the quarter ended March 2022 as a drop in bad loans helped in credit cost reversal. The company&#8217;s net profit stood at Rs 219 crore in the same quarter a year ago. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":20780,"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":[1515,31,1789],"tags":[],"class_list":["post-39650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mahindra Finance Q4 Results: Consolidated net profit up over two-fold at Rs 629 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-mahindrafin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mahindra Finance Q4 Results: Consolidated net profit up over two-fold at Rs 629 cr\" \/>\n<meta property=\"og:description\" content=\"Mahindra &amp; Mahindra Financial Services (Mahindra Finance) on Monday reported an over two-fold increase in consolidated net profit at Rs 629 crore for the quarter ended March 2022 as a drop in bad loans helped in credit cost reversal. 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