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Mahindra & Mahindra Financial Services reports 17% fall in Q1 net profit

26 Jul 2014 Evaluate

The company’s net profit has declined 19% at Rs 154.88 crore as compared to Rs 191.22 crore for the quarter ended June 30, 2013. However, the company’s total income has increased by 16.79% to Rs 1282.99 crore for the quarter under review from Rs 1098.51 crore for the corresponding quarter of the previous year.

On the consolidated basis, the Group has reported 16.52% fall in its net profit after taxes, minority interest of associates at Rs 169.51 crore for the quarter as compared to Rs 203.05 crore for the same quarter in the previous year. However, total income has increased by 18.26% at Rs 1384.37 crore for quarter under review as compared to Rs 1170.66 crore for the quarter ended June 30, 2013.

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