Millennium Post

M&M Financial Services Q2 net profit flies 22%

Mahindra & Mahindra Financial Services on Monday reported 22 per cent rise in consolidated net profit for the second quarter ended September of 2013-14 at Rs 235.32 crore.

The company had reported profit of Rs 192.97 crore during the same quarter (July-September) of the previous fiscal.

Total income from operations stood at Rs 1,285.79 crore during the quarter, up from Rs 969.57 crore a year ago, the company said in a filing to the BSE.

On standalone basis, company’s net profit stood at Rs 221.16 crore, up from Rs 187.61 crore a year ago.

Income on standalone basis during the July-September stood at Rs 1,203.14 crore, up from Rs 915.67 crore in the same quarter of 2012-13.

Shares of the company closed at Rs 279.50 apiece on the BSE, up 2.68 per cent from the previous close.
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