Mahindra Finance announces FY15-9M results

FY15 YTD Dec 2014. Income up by 15% FY15 YTD Dec 2014. PAT down by 12% FY15-Q3. Income up by 12% FY15-Q3. PAT down by 14%.

By Autocar Professional Bureau

20 Jan 2015

1701 Views

Mahindra Financial Services Limited is a leading provider of financial services in the rural and semi-urban markets.

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), which provides financial services in the rural and semi-urban markets, announced the unaudited financial results for the third quarter and nine months period ended 31st December, 2014.

FY15-Q3 Consolidated Results

The Total Income increased by 12% at Rs 1,522 crores during the quarter ended 31st December, 2014 as against Rs 1,363 crores in the corresponding quarter last year. The Profit After Tax (PAT) declined by 14% to Rs 157 crores during the quarter ended 31st December, 2014 as against Rs 182 crores during the corresponding quarter last year.

FY15-Q3 Standalone Results

The Total Income increased by 10% at Rs 1,396 crores during the quarter ended 31st December, 2014 as against Rs 1,271 crores in the corresponding quarter last year. The Profit After Tax (PAT) declined by 17% to Rs 136 crores during the quarter ended 31st December, 2014 as against Rs 164 crores during the corresponding quarter last year.

FY15 YTD Consolidated Results

The Total Income increased by 15% at Rs 4,381 crores during the nine months period year ended 31st December, 2014 as against Rs 3,825 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 12% to Rs 546 crores during the nine months period ended 31st December, 2014 as against Rs 618 crores during the corresponding period last year.

FY15 YTD Standalone Results

The Total Income increased by 13% at Rs 4,047 crores during the nine months period year ended 31st December, 2014 as against Rs 3,582 crores in the corresponding period last year. The Profit After Tax (PAT) declined by 14% to Rs 498 crores during the nine months period ended 31st December, 2014 as against Rs 577 crores during the corresponding period last year.

Operations

The Company currently has Total Assets Under Management of Rs 36,502 crores as on 31st December, 2014 as against Rs 32,858 crores as on 31st December, 2013, a growth of 11%.

The Company continued to broad base its consortium of lenders by bringing in new Banks, Mutual Funds, Insurance Companies and Trusts. During this period, India Ratings and Brickworks Ratings upgraded Company’s long term debt rating to “AAA”. CARE Ratings also assigned “AAA” rating to Company’s long term debt.