M&M Financial Services posts stable growth

Mahindra & Mahindra Financial Services posted strong quarterly performance in Q1FY19. The net interest income for the quarter rose by 45 per cent yoy to Rs. 1,077 crore in Q1FY19 vs Rs. 742 crore in Q1FY18. The interest income for the quarter rose by 28.6 per cent yoy.

The provisions for the quarter also more than doubled to Rs. 293 crore in Q1FY19 vs Rs. 126 crore in the same quarter the previous year. The resultant bottom-line grew by 33.7 per cent yoy to Rs.269.2 crore in Q1FY19.

The Total Assets Under Management (AUM) stood at Rs. 58,711 crores as on June 30, 2018, as against Rs. 48,468 crores as on June 30, 2017, registering a growth of 21%. Disbursement up 35 per cent YoY, crossed Rs. 10,000 crores

On Friday, the stock of Mahindra & Mahindra Financial Services closed flat at Rs. 514 per share.