Shares of M&M Financial Services rise in early trade following a Q1 earnings update that shows strong growth in consolidated profit alongside improvement in credit costs. Business Line reports standalone profit after tax increases 70% year-on-year to ₹899 crore. NDTV says consolidated profit grows about 75%, attributing the increase to lower impairment charges, while standalone profit is down about 1% in the quarter. Multiple reports also link the stock movement to brokerage actions: NDTV notes the shares jump as much as 8.05% to around Rs 378 as brokerages raise target prices after the earnings release. Although the reports differ on the direction of standalone profitability, they agree that consolidated profit growth is driven by reduced impairment charges. Overall, the coverage indicates investor interest centers on the improvement in loan-loss provisions and the resulting earnings momentum, supported by upward revisions to price targets by analysts.
M&M Financial Services shares rise after Q1 profit growth and brokerages raise targets
Shares of M&M Financial Services rise in early trade following a Q1 earnings update that shows strong growth in consolidated profit alongside improvement in credit costs. Business Line reports standal...
- M&M Financial Services reports Q1 consolidated profit increases about 75% year-on-year, helped by lower impairment charges.
- Standalone profit after tax is reported as up about 70% year-on-year to ₹899 crore in one account.
- Another report says standalone profit declines about 1% in Q1.
- The company’s shares rise sharply, with NDTV citing gains of up to about 8.05% to around Rs 378.
- Brokerages raise target prices following the Q1 results, contributing to the stock move.
Standalone profit after tax surged 70% y-o-y to ₹899 crore in Q1
1 hour agoMahindra & Mahindra Financial Services shares rose as much as 8.05% to Rs 378 apiece.
4 hours agoMahindra Finance shares gained as Q1 consolidated profit surged 75% on lower impairment charges despite a 1% decline in standalone profit.
20 hours agoMahindra Finance shares gained as Q1 consolidated profit surged 75% on lower impairment charges despite a 1% decline in standalone profit.
22 hours ago
Canadian wildfire smoke makes air hazardous across U.S. Midwest and Northeast
Smoke from wildfires in Canada is affecting air quality across large parts of the United States, with impacts described...
Philippine Airlines orders nine Airbus A350-1000 jets, with options for five more
Philippine Airlines (PAL) places a new order for Airbus A350 widebody aircraft, agreeing to buy nine Airbus A350-1000 je...
Spot Bitcoin ETFs see record June outflows, followed by uneven early-July inflows
U.S. spot bitcoin ETFs record their worst month ever in June, with net outflows of about $4.5 billion across the fund co...