{"id":55793,"date":"2022-07-28T16:38:00","date_gmt":"2022-07-28T11:08:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=55793"},"modified":"2022-07-28T16:35:30","modified_gmt":"2022-07-28T11:05:30","slug":"biz-results-mahindrafinance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-mahindrafinance\/","title":{"rendered":"Mahindra Finance Q1 Results: Consolidated net profit at Rs 240 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4267033143\"><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 on Thursday reported a consolidated net profit of Rs 240 crore for June quarter aided by fall in expenses and higher income from business operations.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3687900266\"><!-- 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 had posted a net loss of Rs 1,573.40 crore in April-June 2021-22.<\/p>\n<p>The loss in the year-ago period was due to the impact of second wave of COVID-19, Mahindra &amp; Mahindra Financial Services (Mahindra Finance) said.<\/p>\n<p>The net profit in the period was 62 per cent lower when compared to the previous March quarter.<\/p><div class=\"trade-content_5\" id=\"trade-183065491\"><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>Total income during April-June 2022-23 increased to Rs 2,914 crore from Rs 2,567 crore earlier, Mahindra Finance said in a regulatory filing.<\/p>\n<p>Interest income was up at Rs 2,766 crore as against Rs 2,465 crore.<\/p>\n<p>Besides, total expenses for the Mahindra group&#8217;s non-banking financial arm fell 45 per cent to Rs 2,607 crore as against Rs 4,725 crore. Though the expenses were higher from Rs 2,035 crore in March 2022 quarter.<\/p>\n<p>The June quarter earnings include results from as many as six subsidiaries, one associate firm in the US and two joint ventures.<\/p>\n<p>The company said, during the quarter, there was a strong disbursement growth of 145 per cent at Rs 9,472 crore from a year ago, while the loan book rose 6 per cent to Rs 67,693 crore at the end of Q1FY23.<\/p>\n<p>On the asset front, gross bad loans stood at 8 per cent of gross advances as of June 30, 2022. Net bad loan proportion was at 3.5 per cent.<\/p><div class=\"trade-content-10\" id=\"trade-159766794\"><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>Capital adequacy stands at a healthy 25.9 per cent.<\/p>\n<p>&#8220;As of June end, the company carried a total liquidity buffer of approximately Rs 8,700 crore &#8211; covering 3 months\u2019 obligations,&#8221; it added.<\/p>\n<p>Ramesh Iyer, Vice Chairman and Managing Director, Mahindra Finance said the company has been able to report a satisfactory top-line and bottom-line performance on the back of growth in asset book and control on asset quality.<\/p>\n<p>&#8220;The first quarter of last year was impacted due to second wave of COVID-19. As the year progressed, the asset quality improved and the performance normalised. To that end, the current quarter performance is not comparable to that of previous year,&#8221; Iyer said.<\/p>\n<p>Mahindra Finance stock settled at Rs 196.45, down 1.16 per cent from the previous close on the BSE. PTI KPM KPM ANU ANU<\/p>\n<div class=\"trade-after-content\" id=\"trade-1554767682\"><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 on Thursday reported a consolidated net profit of Rs 240 crore for June quarter aided by fall in expenses and higher income from business operations. The company had posted a net loss of Rs 1,573.40 crore in April-June 2021-22. The loss in the year-ago period was due to the impact [&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],"tags":[],"class_list":["post-55793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-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 Q1 Results: Consolidated net profit at Rs 240 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-mahindrafinance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mahindra Finance Q1 Results: Consolidated net profit at Rs 240 cr\" \/>\n<meta property=\"og:description\" content=\"Mahindra &amp; Mahindra Financial Services on Thursday reported a consolidated net profit of Rs 240 crore for June quarter aided by fall in expenses and higher income from business operations. 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