Mahindra & Mahindra Finance Q2 results: Net profit rises 57% to ₹369 crore, revenue at ₹3,897 crore
Mahindra & Mahindra Finance Q2 results: Net profit rises 57% to ₹369 crore, revenue at ₹3,897 crore
Mahindra & Mahindra Financial Services (M&M Finance) has announced its Q2 results, reporting a 57% increase in net profit to ₹369.5 crore. Despite the growth, the figure came in below the market estimates.
The company reported a net profit of ₹235.2 crore in the same quarter of the previous year, with total revenue reaching ₹3,897 crore in Q2 of FY25.
The company's net interest income (NII) amounted to ₹1,963.2 crore, surpassing the estimates of ₹1,858.6 crore. This represents a year-on-year increase of 19.3%, up from ₹1,645.5 crore.
NII and NPA
Additionally, the company reported a gross non-performing asset (NPA) ratio of 3.83%, rising from 3.56% in the previous quarter. The net NPA also grew to 1.59%, compared to 1.46% in the previous quarter.
The company's net interest income (NII) rose to ₹1,963.2 crore, surpassing the market estimates of ₹1,858.6 crore. This reflects a 19.3% year-on-year increase from ₹1,645.5 crore.
At the same time, the gross non-performing asset (NPA) ratio climbed to 3.83%, up from 3.56% in the previous quarter, while net NPA increased to 1.59% from 1.46% quarter-on-quarter.
The non-banking financial company reported a 21% year-on-year growth in total income to ₹3,925 crore, with assets under management rising 20% year-on-year to ₹1.12 lakh crore.
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Business NewsCompaniesCompany ResultsMahindra & Mahindra Finance Q2 results: Net profit rises 57% to ₹369 crore, revenue at ₹3,897 crore
First Published:22 Oct 2024, 05:59 PM IST
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