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M&M Finance slides to 6-month low, down 11% on disappointing Q2 margins

The company said the margins were impacted by higher borrowing rates coupled with change in portfolio mix in favour of better credit quality customers.

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2 min read Last Updated : Oct 30 2023 | 10:17 AM IST

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Shares of Mahindra & Mahindra Financial Services (M&M Finance) hit a six-month low of Rs 246.05, as they tanked 11 per cent on the BSE in Monday’s intra-day trade after the company reported 48 per cent decline in profit after tax (PAT) at Rs 235 crore. The Mahindra Group’s non-banking finance company had posted PAT of Rs 448 crore in a year ago quarter.

The stock was trading at its lowest level since April 6, 2023. The average trading volumes at the counter jumped over three-fold so far. A combined 6.4 million equity shares had changed hands on the

Topics : Buzzing stocks stock market trading Market trends Mahindra Financial Services Q2 results

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