M&M Fin shares pare early gains; down nearly 1% at close

Paring all its initial gains, shares of Mahindra & Mahindra Financial Services ended almost one per cent down today in an overall weak stock market even as the company reported 9 per cent rise in net profit for the last quarter of 2014-15.
The scrip closed at Rs 278.50, down 0.91 per cent on the BSE. During the day, it rose by 3.89 per cent to Rs 292.
On the NSE, it fell by 0.72 per cent to close at Rs 279.
Mahindra & Mahindra Financial Services had yesterday reported 9 per cent rise in net profit at Rs 367 crore for the last quarter of 2014-15.

During the same period of 2013-14, the company had clocked a profit of Rs 336.5 crore.
"The total income increased 14 per cent to Rs 1,680 crore during the quarter ended March 31, 2015, as against Rs 1,476 crore in the corresponding quarter last year," it had said in a filing to the BSE.

For the full fiscal 2014-15, total income rose 14 per cent to Rs 6,061 crore as against Rs 5,301 crore in the same period last year.
Mahindra Finance, part of Mahindra Group, is a non-banking finance company and a leading vehicle and tractor financier, which offers fixed deposits and loans to SMEs.

In the stock market, the BSE benchmark Sensex ended at 27,437.94, down 297.08 points.