Mahindra & Mahindra Financial Services Q2FY18 standalone net profit declines 17.8% yoy

India Infoline Research Team | October 25, 2017 16:39 IST

Mahindra & Mahindra Financial Services Ltd Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18 YoY (%)
NII 911 16.3
Net Profit (adjusted) 78 [17.8]

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Reco. Price

422.85

Last updated on

10-Oct-2017


M&M financial services NII for the quarter increased 16.3% yoy to Rs.911 crore in Q2FY18 vs Rs.783 crore in Q2FY17. This was due to substantial increase revenue from operations by 11% yoy to Rs.1661 crore in Q2FY18.

Total Assets Under Management (AUM) of Rs.49918 Crores as on Q2FY18 as against Rs.43855 Crores as on Q2FY17, a growth of 14%.

Provisions and write-offs for the quarter increased by 46% yoy to Rs.445 crore. This led to 17.8% decline in net profits at Rs. 78 crore in Q2FY18.






Technical View:

Mahindra & Mahindra Financial Services Ltd ended at Rs. 408.85, down by 10.55 points or 2.52% from its previous closing of Rs. 419.40 on the BSE.
The scrip opened at Rs. 425 and touched a high and low of Rs. 425 and Rs. 395 respectively. A total of 27,04,176(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

BSE 461.35 15 (3.36%)
NSE 461.65 15.80 (3.54%)

***Note: This is a NSE Chart

 

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