M&M Finance shares slip 3% after Q3 results disappoint Street
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Shares of Mahindra & Mahindra Financial Services (Mahindra Finance) slipped 3% to an intraday low of Rs 264.05 on the BSE today, January 29, after the company’s results seem to have disappointed the Street. The company reported a a 63% year-on-year (YoY) net profit in Q3FY25. The standalone net profit was reported at Rs 899 crore, while the profit for the same quarter of the previous financial year was reported at Rs 553 crore. Mahindra Finance reported a total income of Rs 4,144 crore for the December 2024 quarter, reflecting a 19% YoY increase. Meanwhile, the company’s interest income for Q3 FY25 stood at Rs 3,957 crore, marking a 17.3% increase compared to Rs 3,373 crore in Q3 FY24. The Net Interest Income (NII) for Q3 FY25 rose to Rs 1,911 crore, reflecting a 12.5% growth from Rs 1,698 crore in the corresponding quarter of the previous year. The gross assets under management increased by 19% compared to the previous year, reaching...