M&M Financial net profit up by 46% on loan growth in Q4 of FY13
By Joseph Samson
Apr 24, 2013
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Mahindra & Mahindra Financial Services Ltd (MMFSL) posted a 46 per cent jump in fourth quarter net profit on the back of growth in loan disbursements in the semi-urban and rural areas.

In the fourth quarter, the net profit was Rs 334 crore against a net profit of Rs 228 crore, a year ago.

Total income in the reporting period rose 33 per cent to Rs 1,126 crore. Disbursements grew 22 per cent in the financial year ended March 31, 2013, the company said in a statement.

Also, the company benefited to the tune of Rs 28 crore from a one-time gain on account of stake sale in one of the subsidiaries.

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