GoodTime Nation - Top WebStories in India

Why is Mahindra and Mahindra Financial Services Ltd. coming? Shares fall?


Why is Mahindra and Mahindra Financial Services Ltd. coming? Shares fall? 1

New Delhi. On Monday, Mahindra & Mahindra Financial Services Ltd., one of the country’s largest NBFC companies. Today’s shares are seeing a decline of more than 8 percent. The reason for the decline in the shares of the company is the lack of good results. On Friday, the company had released its fourth quarter results. After which today the company’s shares are trading with a big decline since morning. Due to which the market cap of the company has reduced by more than Rs 2100 crores. Let us also tell you how MMFSL’s third quarter results were and how its impact is being seen in the stock market.

Company fourth quarter figures
Mahindra Finance’s consolidated net profit fell eight per cent to Rs 219 crore for the quarter ended March 31. 239 crore in the same period last year. On the other hand, integrated net income fell to Rs 3,038 crore in the quarter from Rs 3,140 crore in the previous year. According to company data, the company’s net profit was down 32 per cent year-on-year to Rs 150 crore, while income was down by 1.4 per cent to Rs 2,638 crore. If we talk about the entire financial year, the consolidated net profit of the company decreased by 28 per cent to Rs 780 crore and income fell by one per cent to Rs 12,171 crore.

Also read: Share market’s strong start, Sensex rises 500 points, ICICI Bank rises 5%

The impact of the results on the stock
The quarterly results of the company are seeing a deep impact on the company’s stock. At 11.50 pm, the company’s stock was trading at Rs 164.45, down 8 per cent, while the company’s stock opened at Rs 169.70 today. Which reached a day’s high of Rs 170.10. At the same time, it also went to the day’s low with 161.75 rupees. Let us tell you that the company’s stock closed at Rs 178.85 on Friday.

2100 crores loss in market cap of the company
On the other hand, if we talk about the market cap of the company, it has been reduced by Rs 2100 crore due to the fall in the stock. According to the data, when the market closed on Friday, the company’s market cap was Rs 22,097.45 crore. Today, when the company’s stock reached Rs 161.75, the company’s market cap came down to Rs 19,984.69 crore.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.