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Mahindra & Mahindra Financial Services reports 7% rise in Q4 consolidated net profit

29 Apr 2023 Evaluate

Mahindra & Mahindra Financial Services reported results for fourth quarter (Q4) and year ended March 31, 2023.

Mahindra & Mahindra Financial Services has reported 13.87% rise in its net profit at Rs 684.12 crore for the quarter under review as compared to Rs 600.80 crore for the same quarter in the previous year. Total income of the company increased by 23.93% at Rs 3,056.67 crore for Q4FY23 as compared to Rs 2,466.36 crore for the corresponding quarter previous year.

On consolidated basis, the company has reported 7.38% rise in its net profit at Rs 674.92 crore for fourth quarter ended March 31, 2023 as compared to Rs 628.51 crore for the same quarter in the previous year. Total income of the company increased by 22.05% at Rs 3,536.35 crore for Q4FY23 as compared to Rs 2,897.44 crore for the corresponding quarter previous year.

For the year ended March 31, 2023, the company has reported over 2 fold jump in its net profit at Rs 1,984.32 crore as compared to Rs 988.75 crore for the previous year. Total income of the company increased by 13.76% at Rs 11,056.09 crore for year under review as compared to Rs 9,718.80 crore for year ended March 31, 2022.

For the year ended March 31, 2023, on the consolidated basis, the company has reported 80.05% rise in its net profit at Rs 2,071.20 crore as compared to Rs 1,150.34 crore for the previous year. Total income of the company increased by 12.56% at Rs 12,832.40 crore for year under review as compared to Rs 11,400.51 crore for year ended March 31, 2022.

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