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HomeBusinessM&M Financial shares up by 7% post March quarter profit

M&M Financial shares up by 7% post March quarter profit

Shares of Mahindra & Mahindra Financial Services rose by 7 per cent on Monday after the company reported a 12 per cent rise in consolidated net profit for quarter ended March 31.

M&M Financial-AVThe stock climbed 6.56 per cent to Rs 293.65 on BSE.

At NSE, it went up by 6.98 per cent to Rs 294.95 — its 52-week high.

Mahindra & Mahindra Financial Services on Saturday reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore in the March quarter.

The company had posted a net profit of Rs 367.26 crore in the corresponding quarter of FY15.

Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago, it had 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 FY15.

The company also recommended a dividend of Rs 4 per equity share to the shareholders for the FY16.

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