Mahindra Finance Q4 net profit rises 80 pc to Rs 500 cr

Mahindra and Mahindra Financial Services today reported 80 per cent rise in net profit at Rs 499.9 crore for the fourth quarter ended March of 2017-18.

The company's consolidated net profit stood at Rs 278 crore in the corresponding quarter a year ago.

Total income increased to Rs 2,507 crore during the quarter from Rs 2,133 crore a year earlier, Mahindra Finance said in a release.

The company announced a dividend of 200 per cent for the financial year 2017-18, it said.

On a yearly basis, the group posted more than double net profit of Rs 1,024 crore from Rs 512 crore in the previous fiscal.

Total income increased to Rs 8,573 crore for the year ended March 31, from Rs 7,201 crore a year ago, it said.

The total assets under management (AUM) stood at Rs 55,101 crore as on March 31, 2018, as against Rs 46,627 crore as on March 31, 2017, registering a growth of 18 per cent.