Mahindra and Mahindra Financial Services (Mahindra Finance) has reported a decline of 37 per cent in standalone net profit at Rs 234 crore for the last quarter ended March.
Its net profit stood at Rs 370 crore in the corresponding quarter a year ago.
Total income, however, increased by 9 per cent to Rs 1,843 crore during the quarter from Rs 1,690 crore a year earlier, Mahindra Finance said in a release.
At the board of directors meeting held today, the company recommended a dividend of 120 per cent or Rs 2.40 per share.
Mahindra Finance stock closed 0.60 per cent down at Rs 340.45 on BSE today.
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