31stDecember 2011.
F-2012 Q3 Standalone Results
The Total Income increased by 41% at Rs.747 crores during the quarter ended 31st December 2011 as against Rs.530 crores in the corresponding period last year. The Profit After Tax (PAT) was at Rs.155 crores during the quarter ended 31st December 2011 registering a growth of 34% as compared to Rs.116 crores during the corresponding period last year and a growth of 14% against preceding quarter ended 30th September 2011.
F-2012 YTD Dec'11 Standalone Results
The Total Income increased by 40% at Rs.1976 crores during
the nine months period ended
31stDecember 2011 as against Rs.1410 crores in
the corresponding period last year. The Profit After
Tax (PAT) was at Rs.392 crores during the nine months period
ended 31st December 2011 registering a growth of
28% as compared to Rs.307 crores during the corresponding
period last year.
MMFSL registered a disbursement growth of 36%, maintaining
its leadership position for vehicles and tractors in the semi
urban and rural markets. The Company has significantly
improved its performance as a car financier and has also
increased its presence in Heavy Commercial Vehicles &
Construction Equipment.
The Company maintained growth in its profits in spite of
increased borrowing cost, by growth in business and focusing
on NPA reduction and cost rationalisation.
The Company continued to broad base its consortium of lenders
by bringing in new Banks and
Insurance Companies and tied up the required quantum of funds
at competitive rates.
SUBSIDIARIES
Mahindra Insurance Brokers Limited (MIBL)
During the nine months period ended 31st
December 2011, MIBL registered income at Rs.25.9 crores as
against Rs.37.5 crores in the same period previous year. The
Profit After Tax (PAT) for the nine months period ended
31st December 2011 was Rs.4.6 crores as against
Rs.15.5 crores registered for
the same period previous year. The reduction is primarily on
account of the impact of the regulatory clarification on
Guidelines on Group Insurance Policies issued by the IRDA.
The Company has reengineered its business processes so as to
be in line with the said clarification from December 2011.
Mahindra Rural Housing Finance Limited (MRHFL)
MRHFL has disbursed Rs.181.0 crores during the the nine months period ended 31stDecember 2011 as against Rs.135.5 crores disbursed during the same period previous year, registering a growth of
34% over the same period previous year. The Profit After Tax (PAT) registered a growth of 10% at Rs.6.7 crores as against Rs. 6.1 crores registered for the same period previous year. During the period, NHB has issued notification on providing 0.40% provision on all standard assets and increased provisioning requirements on non- performing assets with immediate effect. The amount of Rs.1.7crores is debited to profit and loss account on account of above notification.FY-2012 Q3 Consolidated Results
The total income increased by 42% at Rs.776 crores during the
quarter ended 31st December 2011 as against
Rs.547 crores during the corresponding period last year. The
Profit After Tax (PAT) increased by 28% at Rs.160 crores for
the quarter ended 31st December 2011 as compared
to Rs.125 crores during the same period last year and a
growth of 17% against preceding quarter ended
30th September
2011.
F-2012 YTD Dec'11 Consolidated Results
The Total Income increased by 41% at Rs.2047 crores during the nine month period ended 31st December 2011 as against Rs.1453 crores in the corresponding period last year. The Profit After Tax (PAT) was at Rs.402 crores during the nine month period ended 31st December 2011 registering a growth of 23% as compared to Rs. 328 crores during the corresponding period last year.
About Mahindra & Mahindra Financial Services Ltd
Mahindra & Mahindra Financial Services Ltd (MMFSL), part of the US $14.4 billion Mahindra Group, is one of India's leading non-banking finance companies with a pan India presence. Focused on the rural and semi-urban sector, it provides finance for vehicles and tractors and has the largest network of branches amongst NBFC's operating in these areas.
For further information please contact:Ms Roma Balwani
------x-----
Senior Vice President and Group Head, Corporate
Communications
Mahindra & Mahindra Ltd. Mumbai, India
Phone: (+91-22) 2497 5176
Email: balwani.roma@mahindra.com
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Mahindra Finance Q3 result 2012 |