Mahindra & Mahindra Financial Services Limited has reported a consolidated net profit of Rs 992 crores for Q3FY22 as against losses reported for the corresponding period last year. However, net profits saw a 10% QoQ fall in profits since the company reported a profit of Rs 1,103 crores in the quarter ended on September 2021.
Its income stood near the levels of previous year at Rs 2,986 crores. The company’s standalone profits were Rs 894 crore and the company’s standalone profits fell 13% QoQ. The company’s net interest income rose by 14% YoY to Rs 1,580 crores from Rs 1,384 crores.
Under provisions and write-offs, the company had a benefit of Rs 148 crores. Its Gross NPAs stood at 11.3% and it net NPA stood at 5.63%. The company’s shares witnessed a full gap-down opening as it fell over 5% after the announcement of its results.
Highlight by Aman Agarwal.