Mahindra Finance Q4 PAT down 32 pc at Rs 150 crore
Mumbai (Maharashtra) [India], Apr 24 (ANI): Mahindra & Mahindra Financial Services has reported standalone profit after tax of Rs 150 crore during the quarter ended March 31, down 32 per cent as against Rs 221 crore in the corresponding quarter last year.
ANI
Apr 24, 2021 11:09 IST
Mumbai (Maharashtra) [India], Apr 24 (ANI): Mahindra & Mahindra Financial Services has reported standalone profit after tax of Rs 150 crore during the quarter ended March 31, down 32 per cent as against Rs 221 crore in the corresponding quarter last year.
Profit before tax fell by 41 per cent to Rs 171 crore from Rs 292 crore while pre-provision operating profits stood at Rs 1,057 crore, marking a growth of 9 per cent in the year-on period.
The leading provider of financial services in rural and semi-urban markets said its total income declined marginally by 1.4 per cent at Rs 2,638 crore in Q4 FY21 as against Rs 2,676 crore in Q4 FY20.
However, the board of directors has recommended a dividend of Rs 0.80 per share on equity share of Rs 2 each which works out to 40 per cent.
Mahindra Finance said total disbursements totalled Rs 19,001 crore in Q4 FY21 as against Rs 32,381 crore in the same period of last financial, dropping by 41 per cent.
Loan assets stood at Rs 64,608 crore compared to Rs 68,089 crore. Resultantly, the net NPA ratio of the company stands at 3.97 per cent.
"The final impact of this pandemic is very uncertain and the actual impact may be different than that estimated based on the conditions prevailing as at the date of approval of these financial results," said Mahindra Finance.
"The management will continue to closely monitor the material changes in the macro-economic factors impacting the operations."
The company's capital and debt position is strong, and asset and liability management position is well balanced. As on March 31, the total investment book stood at Rs 11,607 crore compared to Rs 5,911 crore as on March 31 last year.
The company has been duly servicing its debt obligations, maintains a healthy capital adequacy ratio and has adequate capital and financial resources to run its business.
The standalone assets under management comprising loan assets and investments stood at Rs 81,689 crore as on March 31 as against Rs 77,160 crore as on the corresponding date last year, registering a growth of 6 per cent.
(ANI)
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