{"id":7204,"date":"2020-07-18T17:33:50","date_gmt":"2020-07-18T17:33:50","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=7204"},"modified":"2020-07-18T17:33:50","modified_gmt":"2020-07-18T17:33:50","slug":"mahindra-and-mahindra-financial-services-records-a-consolidated-net-profit-of-rs432cr-in-q1fy21","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=7204","title":{"rendered":"Mahindra and Mahindra Financial Services records a consolidated net profit of ~Rs432cr in Q1FY21"},"content":{"rendered":"

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\n\t\"Quarterly<\/div>\n


\nMahindra & Mahindra Financial Services\u00a0 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.<\/p>\n

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.<\/p>\n

The capital adequacy ratio in Q1FY21 stood at 19.6% i.e Tier 1 being 15.3% and Tier 2 being 4.3%.\u00a0<\/p>\n

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.<\/p>\n

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.<\/p>\n

On Friday, the stock closed at Rs207.9 with a gain of 3.07% on BSE.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n

\n\t\t\t\tParticulars<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ1FY21 <\/strong>
(Rs in cr)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ1FY20 (Rs in cr)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t% variance<\/strong><\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tTotal Income<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t3,068.68<\/td>\n

<\/p>\n
\n\t\t\t\t2838.4247<\/td>\n

<\/p>\n
\n\t\t\t\t8.11<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tNII<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t1,655.47<\/td>\n

<\/p>\n
\n\t\t\t\t1,559.28<\/td>\n

<\/p>\n
\n\t\t\t\t6.16<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tPAT<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t432.12<\/td>\n

<\/p>\n
\n\t\t\t\t108.46<\/td>\n

<\/p>\n
\n\t\t\t\t298.41<\/td>\n


\n\t\t<\/tr>\n

\n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tParticulars<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ1FY21<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ4FY20<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tchange<\/strong><\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tGNPA as % of Business Assets (Stage 3)<\/td>\n

<\/p>\n
\n\t\t\t\t9.19<\/td>\n

<\/p>\n
\n\t\t\t\t8.44<\/td>\n

<\/p>\n
\n\t\t\t\t0.75<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tNet NPA as % of Business Assets (Stage 3)<\/td>\n

<\/p>\n
\n\t\t\t\t5.72<\/td>\n

<\/p>\n
\n\t\t\t\t5.98<\/td>\n

<\/p>\n
\n\t\t\t\t-0.26<\/td>\n


\n\t\t<\/tr>\n

\n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n

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 \n\t\t\t<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tProvision Coverage<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t40.1<\/td>\n

<\/p>\n
\n\t\t\t\t31.0<\/td>\n

<\/p>\n
\n\t\t\t\t9.1<\/td>\n


\n\t\t<\/tr>\n<\/tbody>\n<\/table>\n

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