Mumbai, Jul 23 (PTI) Mahindra and Mahindra Financial Services on Tuesday reported a 45 per cent jump in June quarter net profit to ₹513 crore.
The non-bank lender had reported a net profit of ₹353 crore in the year-ago period.
The core net interest income grew 15 per cent to ₹1,932 crore and the interest margin narrowed to 6.6 per cent from 7.1 per cent in the same period of the previous quarter.
Its total income grew 20 per cent to ₹3,760 crore during the reporting quarter, and the assets under management were up 23 per cent at ₹1.06 lakh crore.
Its credit costs declined to ₹448 crore from the ₹526 crore in the year-ago period, helping in the profit growth.
In a statement, it said the collection efficiency remained at 94 per cent and the non-performing assets were also within the thresholds.
The company scrip closed at ₹295.90 apiece on the BSE on Tuesday, 1.16 per cent higher than its previous close.
