Mahindra & Mahindra Financial Services on Friday reported an 8 percent decline in its consolidated net profit at Rs 219 crore for the quarter ended March 31. The Company has reported a standalone profit after tax of Rs 150 crore during the quarter ended March 31, down 32 percent as against Rs 221 crore in the corresponding quarter last year. Profit before tax fell by 41 percent to Rs 171 crore from Rs 292 crore while pre-provision operating profits stood at Rs 1,057 crore, marking a growth of 9 percent in the year-on period.

The company's net profit had stood at Rs 239 crore during the similar JanuaryMarch quarter of the preceding fiscal year 2019-20. Its consolidated total income declined marginally at Rs 3,038 crore during the quarter ended March 31, 2021, against Rs 3,140 crore a year ago, Mahindra Finance said in a statement

The pre-provision profits stood at Rs 1,057 crore, a growth of 9 percent over the corresponding period last year, said the company. For the full year FY21, the consolidated net profit declined by 28 percent to Rs 780 crore and the income was up by 1 percent to Rs 12,171 crore.

On Friday, shares of Mahindra & Mahindra Financial Services closed at Rs. 178.40 per unit up by 2.12 percent as compared to the previous closing of Rs 174.70 on the NSE

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