Mahindra Finance’s Q1 net profit surges 38%

Mahindra & Mahindra Financial Services (Mahindra Finance) has reported unaudited results for the first quarter ended June 30, 2011.

The company’s net profit after tax for the quarter ended June 30, 2011 has surged 37.74% at Rs 102.20 crore as compared to Rs 74.20 crore for the corresponding quarter last year. Its total income increased 40.49% at Rs 563.96 crore for the quarter under review from Rs 401.42 crore for the same quarter last year.

On consolidated basis, the Group’s net profit after tax Minority Interest for the quarter has jumped 32.27% at Rs 105.47 crore as compared to Rs 79.74 crore for the quarter ended June 30, 2010. Its total income has jumped by 41.66% at Rs 584.57 crore for the quarter under review as compared to Rs 412.66 crore for the similar quarter of the previous year.