M&M Financial Services March quarter profit up 12% at Rs 411 cr

Mahindra & Mahindra Financial Services today reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore for quarter ended March 31.

The company had posted a net profit of Rs 367.26 crore in the corresponding quarter of 2014-15.

Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago, it said in a BSE filing.

On a yearly basis, the group posted a net profit of Rs 772.29 crore, down 15.4 per cent from 2014-15.

"Total income increased to Rs 6,597.5 crore for the year ended March 31, from Rs 6,060.91 crore a year ago," it said.

The company also recommended a dividend of Rs 4 per equity share to the shareholders for the fiscal 2015-16.