Mahindra & Mahindra Financial Services announced its quarterly results on July 18, 2020. Consolidated total income stood at Rs3,068.68cr in Q1FY21, which increased by 8.11% yoy, as against Rs2,838.42cr during the corresponding quarter, last year.
Net Interest Income (NII) in Q1FY21 stood at Rs1,655.47cr which increased by 6.16% yoy, as against Rs1,559.28 in Q1FY20. The consolidated profit after tax stood at Rs432.11cr in Q1FY21 that increased by 298.41% yoy, as against Rs108.46cr during the corresponding quarter of last year.
The capital adequacy ratio in Q1FY21 stood at 19.6% i.e Tier 1 being 15.3% and Tier 2 being 4.3%.
The Gross Stage 3 levels stood at 9.19% for Q1FY21, against 8.17% during the corresponding period last year. The Net Stage 3 levels stood at 5.72% for Q1FY21, against 6.27% in Q1FY20. The Stage 3 provisioning coverage ratio stood at 40.1% for Q1FY21, against 24.9% in Q1FY20.
In order to cover contingencies that may arise due to COVID-19 pandemic, an additional charge of Rs664cr (pre-tax) in the consolidated financial statements for the quarter ended 30 June 2020.
On Friday, the stock closed at Rs207.9 with a gain of 3.07% on BSE.
|
Particulars |
Q1FY21 (Rs in cr) |
Q1FY20 (Rs in cr) |
% variance |
|
Total Income |
3,068.68 |
2838.4247 |
8.11 |
|
NII |
1,655.47 |
1,559.28 |
6.16 |
|
PAT |
432.12 |
108.46 |
298.41 |
|
Particulars |
Q1FY21 |
Q4FY20 |
change |
|
GNPA as % of Business Assets (Stage 3) |
9.19 |
8.44 |
0.75 |
|
Net NPA as % of Business Assets (Stage 3) |
5.72 |
5.98 |
-0.26 |
|
Provision Coverage |
40.1 |
31.0 |
9.1 |
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