M&M Financial registers 42% growth in Q4 net profit; scrip jump 7%

M&M Financial registers 42% growth in Q4 net profit; scrip jump 7%Mahindra & Mahindra Financial Services Ltd, the wholly-owned subsidiary of automotive giant Mahindra & Mahindra, has posted a net profit of Rs 109.95 crore for the quarter ended March 31, 2009 as compared to Rs 76.90 crore for the quarter ended March 31, 2008.

In addition, the company has also registered jump in its total income from Rs 364.09 crore for the quarter ended March 31, 2008 to Rs 401.50 crore for the quarter ended March 31, 2009.
For the year ended March 31, 2009, the firm has posted a net profit of Rs 219.69 crore, up 21% compared with Rs 181.13 crore for the previous year.

Apart from this, the total income of the company income for the said period also soared 13% to Rs 1,400.4 crore as against Rs 1,236.6 crore the year ago.

During announcement of results, the board of directors of the company has recommended a dividend of Rs.5.50 per share on equity of Rs. 10/ each as against Rs.4.50 per share declared last year.

The stock of the company was trading at Rs 224, up 7 per cent compared to previous close of Rs 209. The scrip touched an intraday high and low of Rs 230 and Rs 212