MUMBAI (Reuters) - Shares in Mahindra & Mahindra Financial Services gained as much as 3.9 percent after the company's gross bad loans declined to 5.9 percent of total advances in January-March compared with 7.1 percent in October-December, analysts said.
"Through increased penetration and close follow up efforts the company has been able to increase overall collections and bring down NPA (Non performing assets) levels resulting in growth of profits," the company said in a statement on Thursday.
The company's January-March consolidated profit rose by about 8.9 percent to 3.67 billion rupees.
(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)
