Mahindra & Mahindra Financial Services reports 38% growth in Q2 net

Mahindra & Mahindra Financial Services (MMFSL) has reported results for second quarter ended September 30, 2012.

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.

MMFSL is a subsidiary of Mahindra & Mahindra (M&M). It provides finance for purchase of utility vehicles (UV), tractors and cars, two/ three-wheeler, refinance, commercial vehicle, construction equipments and home loans.