M&M Financial drops after weak Q3 outcome

Mahindra & Mahindra Financial Services lost 3.91% to Rs 256.60 at 15:04 IST on BSE after consolidated net profit fell 15.65% to Rs 182.36 crore on 28.36% growth in total income to Rs 1363.20 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced during trading hours today, 22 January 2014.

Meanwhile, the S&P BSE Sensex was up 94.10 points or 0.44% at 21,345.22

On BSE, so far 4.46 lakh shares were traded in the counter as against average daily volume of 1.12 lakh shares in the past one quarter.

The stock hit a high of Rs 273.85 and low of Rs 254.95 so far during the day. The stock had hit a record high of Rs 355.90 on 23 December 2013. The stock had hit a 52-week low of Rs 179 on 4 March 2013.

The stock had outperformed the market over the past one month till 21 January 2014, falling 15.06% compared with the Sensex's 0.81% rise. The scrip also underperformed the market in past one quarter, sliding 4.45% as against Sensex's 1.71% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

Mahindra & Mahindra Financial Services, part of the $16.2 billion Mahindra Group, is one of India's leading non-banking finance companies (NBFC) with a pan India presence. The company focuses on the rural and semi-urban markets.

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