Mahindra Finance on Wednesday reported a marginal 3 per cent dip in post-tax profit at Rs. 336.51 crore for the quarter ended March, from Rs. 346.36 crore a year ago.
Last fiscal year's number included a one-off gain of Rs. 64.26 crore through the sale of investment in its insurance broking subsidiary, managing director Ramesh Iyer said.
"You should rather see the profit before tax component," he said. The company's profit before tax was up 18 per cent at Rs. 469 crore, including an excess provision of Rs. 36 crore.
For the reporting quarter, total income from operations grew to Rs.1,360.20 crore as against the Rs. 1,110.29 crore in the corresponding period last year.
Mr Iyer said that there has been an increase in the cash flows from its key markets in the South and others like Maharashtra, Madhya Pradesh and Rajasthan, which is helping improve its NPA (non-performing asset) position.
Gross non-performing loans ratio has come down to 4.4 per cent from the 4.8 per cent in December 2013. Mr Iyer said that it would narrow down further during the fiscal year.
He said the gross non-performing asset (GNPA) ratio spiked to 4.8 per cent from the 3 per cent in March 2013.
For the full fiscal year, the company's net profit rose to Rs. 954.42 crore from Rs. 927.03 crore in the previous fiscal year.
Last fiscal year's number included a one-off gain of Rs. 64.26 crore through the sale of investment in its insurance broking subsidiary, managing director Ramesh Iyer said.
"You should rather see the profit before tax component," he said. The company's profit before tax was up 18 per cent at Rs. 469 crore, including an excess provision of Rs. 36 crore.
For the reporting quarter, total income from operations grew to Rs.1,360.20 crore as against the Rs. 1,110.29 crore in the corresponding period last year.
Mr Iyer said that there has been an increase in the cash flows from its key markets in the South and others like Maharashtra, Madhya Pradesh and Rajasthan, which is helping improve its NPA (non-performing asset) position.
Gross non-performing loans ratio has come down to 4.4 per cent from the 4.8 per cent in December 2013. Mr Iyer said that it would narrow down further during the fiscal year.
He said the gross non-performing asset (GNPA) ratio spiked to 4.8 per cent from the 3 per cent in March 2013.
For the full fiscal year, the company's net profit rose to Rs. 954.42 crore from Rs. 927.03 crore in the previous fiscal year.