Non-banking lender Mahindra and Mahindra Financial Services on Friday reported more than doubling of consolidated net for the March quarter at Rs 940 crore.
The Mahindra group entity had reported a consolidated net profit of Rs 456 crore in the year-ago period.
On a standalone basis, its profit after tax (PAT) for the quarter jumped 55 per cent to Rs 873 crore.
Its Chief Executive and Managing Director Raul Rebello said the handsome growth in profit was a result of a multitude of factors on the operation front put in by the company, and not because of low base.
The high profit growth was due to factors like keeping funding costs under control, which expanded the net interest margin by 1 per cent to 7.5 per cent, a higher asset growth at 12 per cent, doubling of fee income, and also tighter controls over operating costs and credit costs, he said.
Rebello said given the current economic climate, where the Middle East conflict is set to impact activity, the lender has set aside Rs 21
April 25, 2026
