Mahindra & Mahindra Financial Services March quarter profit edges up 9% to Rs 367 crore

NEW DELHI: Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) today reported a 9 per cent rise in net profit at Rs 367 crore in the last quarter of 2014-15.

During the same period of 2013-14, the company had clocked a profit of Rs 336.5 crore.

"The total income increased 14 per cent to Rs 1,680 crore during the quarter ended March 31, 2015, as against Rs 1,476 crore in the corresponding quarter last year," it said in a release to the BSE.

For the full 2014-15, total income rose 14 per cent to Rs 6,061 crore as against Rs 5,301 crore in the same period last year.

The net profit for 2014-15 fiscal, however, declined 4 per cent to Rs 913 crore as against Rs 954 crore a year ago.

Mahindra Finance, part of the Mahindra Group, is one of non-banking finance companies in India and a leading vehicle and tractor financier, which offers fixed deposits and loans to SMEs.

It is focused on rural and semi-urban sector and has asset under management worth over USD 5 billion.

Mahindra Finance shares closed 1.5 per cent higher at Rs 281.05 on the BSE today.