M&M Financial Services tumbles after weak Q3 results

Mahindra & Mahindra Financial Services fell 6.64% to Rs 287.50 at 11:47 IST on BSE after consolidated net profit declined 14% to Rs 157 crore on 12% growth in total income to Rs 1522 crore in Q3 December 2014 over Q3 December 2013.

The Q3 result hit the market on Saturday, 17 January 2015.

Meanwhile, the S&P BSE Sensex was up 129.48 points or 0.46% at 28,251.37.

On BSE, so far 3.32 lakh shares were traded in the counter as against average daily volume of 2.13 lakh shares in the past one quarter.

The stock hit a high of Rs 293.45 and low of Rs 282.20 so far during the day. The stock had hit a 52-week low of Rs 229.50 on 17 April 2014. The stock had hit a 52-week high of Rs 344.90 on 12 November 2014.

The stock had outperformed the market over the past one month till 16 January 2015, advancing 7% compared with Sensex's 5.01% rise. The scrip had also outperformed the market in past one quarter, jumping 11.31% as against Sensex's 8.16% rise.

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

Mahindra & Mahindra Financial Services (MMFSL), part of the Mahindra Group, is one of India's leading non-banking finance companies.

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