Mahindra & Mahindra (M&M) Financial Services, subsidiary of M&M, which provides finance for purchase of utility vehicles (UV), tractors and cars, two/ three-wheeler launched a share sale on Wednesday to raise about $160 million, as mentioned in a media report. Further, the company reportedly is selling shares to institutional investors in the price band of Rs 881-889 rupees a share.
The company has posted a rise of 38.44% in its net profit after taxes at Rs 187.61 crore for the quarter ended September 30, 2012 as compared to Rs 135.52 crore for the same quarter in the previous year. Total income from operation has increased by 43.86% at Rs 929.22 crore for quarter under review as compared to Rs 645.91 crore for the quarter ended September 30, 2011.
