Mahindra & Mahindra Financial drops on weak Q4 results

Mahindra & Mahindra Financial Services fell 0.97% to Rs 337.15 at 10:10 IST on BSE after consolidated net profit fell 32% to Rs 278 crore on 12% rise in total income to Rs 2133 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 135.24 points or 0.45% at 30,078.48.

On the BSE, 98,054 shares were traded in the counter so far as against average daily volume of 1.95 lakh shares in the past one quarter. The stock had hit a high of Rs 347.75 and a low of Rs 336.10 so far during the day. The stock had hit a record high of Rs 405 on 4 October 2016. The stock had hit a 52-week low of Rs 244.35 on 27 December 2016.

The stock had outperformed the market over the past one month till 25 April 2017, gaining 6.24% compared with the Sensex's 1.77% rise. The scrip had also outperformed the market in past one quarter, surging 19.16% as against Sensex's 8.07% rise.

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

During the quarter ended 31 March 2017, the total value of asset financed was Rs 8376 crore as against Rs 6811 crore during the quarter ended 31 March 2016, a value growth of 23%.

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

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