The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets has announced the unaudited financial results for the quarter ended June 30, 2018.
In line with direction from Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (Ind AS) with effect from 1st April 2018. Results for the quarter (FY19-Q1) are prepared and reported in compliance with Ind AS requirements. The figures for the same quarter previous year (FY18 Q1) have also been restated as per Ind AS.
The Total Income increased by 29%at Rs.1940 Croresduring the quarter ended June 30, 2018, as against Rs.1509 Crores in the corresponding period last year. The Profit After Tax(PAT) stood at Rs.269 Croresduring the quarter ended June 30, 2018, as against Rs.201 Crores during the corresponding quarter last year, registering a growth of 34%over the same period previous year.
