MAHINDRA FINANCE Announces Quarterly Results (2QFY19); Net Profit Up 278.8%

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Markets will remain closed on 10th April, 2020 on account of Good Friday.

MAHINDRA FINANCE Announces Quarterly Results (2QFY19); Net Profit Up 278.8%
Fri, 9 Nov

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

MAHINDRA FINANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m19,79219,25821,0339.2%6.3%
Other incomeRs m64138451225.9%601.3%
Total revenuesRs m19,85619,39721,48410.8%8.2%
InterestRs m8,5518,4889,36710.4%9.5%
Gross Profit Rs m9,54610,63811,5218.3%20.7%
Other expensesRs m9,4256,6546,414-3.6%-31.9%
Profit before taxRs m1,6954,1225,55834.8%227.9%
TaxRs m6881,4321,74421.8%153.5%
Profit after taxRs m1,0072,6913,81441.8%278.8%
Gross profit margin %48.255.254.8
Effective tax rate%40.634.731.4
Net profit margin%5.114.018.1
* 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 6.3% on a year-on-year (YoY) basis. The interest expended was up by 9.5% YoY during the same period.
  • The bank's operating profit increased by 20.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 54.8% in 2QFY19 as against 48.2% in 2QFY18.
  • Other income increased by 601.3% YoY during the quarter.
  • Net profit for the quarter increased by 278.8% YoY. Net profit margins during the quarter increased from 5.1% in 2QFY18 to 18.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 9.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 10.4% QoQ during the same period.
  • The bank's operating profit declined by 8.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 54.8% in 2QFY19 as against 55.2% in 1QFY18.
  • Net profit for the quarter increased by 41.8% QoQ, while net profit margins increased from 14.0% in 1QFY18 to 18.1% in 2QFY19.

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 421.3 to Rs 427.7, registering a Gain of Rs 6.4 or around 1.5%.

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 427.7, the price to earnings (P/E) ratio of MAHINDRA FINANCE stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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For the quarter ended December 2018, MAHINDRA FINANCE has posted a net profit of Rs 3 bn (down 12.7% YoY). Sales on the other hand came in at Rs 22 bn (up 1.8% YoY). Read on for a complete analysis of MAHINDRA FINANCE's quarterly results.

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