Mahindra Finance announced its audited financial results for the quarter ended March 2019. Mahindra Finance has seen a stellar growth of 87% in net profit to Rs 588 crores for the fourth quarter ended March 2019. In comparison, net profit of the corresponding quarter in the previous year was at Rs 314 crores.
Its total income has risen to Rs 2,480 crore in contrast to the year-ago quarter of Rs 1,808 crore, Mahindra Finance said in a release.
The Total Income increased by 32% at Rs.10,431 Crores during the year ended March 31, 2019, as against Rs.7,912 Crores in the corresponding period last year. The Profit After Tax (PAT) stood at Rs.1,867 Crores during the year ended March 31, 2019, as against Rs.1,216 Crores during the corresponding period last year, registered a growth of 54% over the same period previous year.
Shares of MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.433.2 as compared to the previous close of Rs. 423.95. The total number of shares traded during the day was 202055 in over 4193 trades.
The stock bagged an intraday high of Rs. 436.6 and intraday low of 425. The net turnover during the day was Rs. 86982039.
There will be a special dividend recommended in the light of successful completion of 25 years of the company’s business operations.The board has recommended a dividend of Rs 4 or 200 per cent per share and also a special dividend of Rs 2.50 aggregating Rs 6.50 per share of the face value of Rs 2 each for the financial year ended March 31, 2019.
Its total income went up to Rs 2,480 crore as compared with Rs 1,808 crore in the year-ago quarter, Mahindra Finance said in a release.
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