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M&M Financial Q4 Stand-Alone Profit Up By 45%

Mahindra & Mahindra Financial Services Ltd. reported fourth-quarter stand-alone net profit of Rs.227.69 crore, up by 45 percent from the Rs.156.55 crore for the quarter ended March 31 last year.

Quarterly income from operations rose by 44 percent to Rs.838.86 crore from the Rs.581.55 crore in the corresponding quarter of the preceding year, while other income was Rs.8.13 crore, compared with Rs.4.15 crore in Q4FY11.

For the fiscal year, the company's stand-alone net profit stood at Rs.620.12 crore, compared with Rs.463.11 crore in 2011, an increase of 34 percent. Total income, including other income, increased by 41 percent to Rs.2,794.59 crore from the Rs.1,977.51 crore last year.

On a consolidated basis, the company posted fourth-quarter net profit of Rs.242.38 crore, up by 46 percent from the Rs.165.53 crore in the year-ago quarter. Total income, including other income, grew by 48 percent to Rs.891.48 crore from the Rs.603.81 crore in Q4FY11.

For the full year, its consolidated alone net profit totaled Rs.643.50 crore, higher by 31 percent that the Rs.492.77 crore a year-ago. Total income, including other income, increased by 43 percent to Rs.2,910.36 crore from the Rs.2,038.59 crore last year.

The company's board recommended a dividend of Rs.14.00 per equity share of Rs.10 each for the fiscal year 2012. The dividend will be paid between July 28 and August 06, 2012 for those whose names appear in the books as on close of the business hours on July 06.

During the year, the company's customer base crossed the 2 million mark in the month of March 2012.

At the BSE, Mahindra & Mahindra Financial closed Monday's trading at Rs.667.85, down 1.23 percent from the previous close.

by RTTNews Staff Writer

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