MAHINDRA FINANCE Announces Quarterly Results (3QFY19); Net Profit Down 12.7%

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MAHINDRA FINANCE Announces Quarterly Results (3QFY19); Net Profit Down 12.7%
Mon, 28 Jan

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

MAHINDRA FINANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m21,82521,03322,2255.7%1.8%
Other incomeRs m128451237-47.4%84.9%
Total revenuesRs m21,95321,48422,4624.6%2.3%
InterestRs m8,7349,36710,1858.7%16.6%
Gross Profit Rs m12,95211,52111,8883.2%-8.2%
Other expensesRs m7,7616,4146,9288.0%-10.7%
Profit before taxRs m5,7635,5585,197-6.5%-9.8%
TaxRs m2,1141,7442,01015.3%-4.9%
Profit after taxRs m3,6493,8143,187-16.4%-12.7%
Gross profit margin %59.354.853.5
Effective tax rate%36.731.438.7
Net profit margin%16.718.114.3
* 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 1.8% on a year-on-year (YoY) basis. The interest expended was up by 16.6% YoY during the same period.
  • The bank's operating profit declined by 8.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 53.5% in 3QFY19 as against 59.3% in 3QFY18.
  • Other income increased by 84.9% YoY during the quarter.
  • Net profit for the quarter declined by 12.7% YoY. Net profit margins during the quarter declined from 16.7% in 3QFY18 to 14.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 8.7% QoQ during the same period.
  • The bank's operating profit declined by 3.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 53.5% in 3QFY19 as against 54.8% in 2QFY18.
  • Net profit for the quarter declined by 16.4% QoQ, while net profit margins declined from 18.1% in 2QFY18 to 14.3% in 3QFY19.

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 481.6 to Rs 410.0, registering a Loss of Rs 71.6 or around 14.9%.

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 410.0, the price to earnings (P/E) ratio of MAHINDRA FINANCE stands at 15.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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