M&M Financial Services shares jump nearly 5 pc after Q3 results

Shares of Mahindra & Mahindra Financial Services Ltd on Wednesday climbed nearly 5 per cent, a day after the company reported 16 per cent rise in consolidated net profit in December 2019 quarter. The scrip gained 4.47 per cent to close at Rs 368 on the BSE. During the trade, it rose by 7.87 per cent to Rs 380.

On the NSE, it jumped 4.61 per cent to settle at Rs 367.35. Mahindra & Mahindra Financial Services Ltd on Tuesday reported 16 per cent rise in consolidated net profit at Rs 475 crore in the third quarter ended on December 31, 2019.

The company had posted a net profit of Rs 409 crore in the year-ago quarter. The consolidated income of the company was up 14 per cent at Rs 3,081 crore in the October-December quarter of 2019-20 as compared to Rs 2,705 crore in the year-ago period, it said in a release.