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Mahindra Finance Profit Down YoY, Beats Estimates
28 Jan
Summary
- Mahindra Finance's Q3 net profit was ₹810.4 crore, exceeding estimates.
- Net profit declined year-on-year but asset quality showed improvement.
- Loan disbursements increased 7% year-on-year in the December quarter.
Mahindra & Mahindra Financial Services announced its Q3 results, revealing a net profit of ₹810.4 crore, which exceeded the market's expectations.
Despite this positive beat, the net profit represented a year-on-year decrease from the ₹899.5 crore reported in the same period last year.
The company's net interest income saw a robust 20.6% increase, reaching ₹2,304 crore, driven by steady loan growth.
