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MAHINDRA FINANCE Announces Quarterly Results (1QFY19); Net Profit Up 360.5%

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MAHINDRA FINANCE Announces Quarterly Results (1QFY19); Net Profit Up 360.5%
Fri, 3 Aug

MAHINDRA FINANCE has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

MAHINDRA FINANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m18,74524,97019,258-22.9%2.7%
Other incomeRs m1159613844.7%19.9%
Total revenuesRs m18,86125,06619,397-22.6%2.8%
InterestRs m8,2818,6978,488-2.4%2.5%
Gross Profit Rs m10,33016,12210,638-34.0%3.0%
Other expensesRs m9,5368,0876,654-17.7%-30.2%
Profit before taxRs m8867,9984,122-48.5%365.2%
TaxRs m3022,9991,432-52.3%374.2%
Profit after taxRs m5844,9992,691-46.2%360.5%
Gross profit margin %55.164.655.2
Effective tax rate%34.137.534.7
Net profit margin%3.120.014.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.7% on a year-on-year (YoY) basis. The interest expended was up by 2.5% YoY during the same period.
  • The bank's operating profit increased by 3.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 55.2% in 1QFY19.
  • Other income increased by 19.9% YoY during the quarter.
  • Net profit for the quarter increased by 360.5% YoY. Net profit margins during the quarter increased from 3.1% in 1QFY18 to 14.0% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 22.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.4% QoQ during the same period.
  • The bank's operating profit declined by 34.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 55.2% in 1QFY19 as against 64.6% in 4QFY18.
  • Net profit for the quarter declined by 46.2% QoQ, while net profit margins declined from 20.0% in 4QFY18 to 14.0% in 1QFY19.

To see how MAHINDRA FINANCE has performed over the last eight quarters, please visit here.

MAHINDRA FINANCE Share Price Performance

Over the last one year, MAHINDRA FINANCE share price has moved up from Rs 395.1 to Rs 515.0, registering a Gain of Rs 120.0 or around 30.4%.

Overall, the S&P BSE SENSEX is up 0.7% over the year.

Current Valuations

At the current price of Rs 515.0, the price to earnings (P/E) ratio of MAHINDRA FINANCE stands at 23.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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