Mahindra Finance FY 2023 Q3 profit after tax down by 33% to Rs 664cr

Mahindra & Mahindra Financial Services (Mahindra Finance) has registered a profit after tax (PAT) of INR 664 crores during the third quarter of the fiscal year 2023 (FY 2023 Q3), a decrease of 33% compared to a profit after tax of INR 992 crores during the corresponding quarter in the previous fiscal year.

For the quarter ended 31 December 2022, the Indian financial services provider posted an increase of 12% in FY 2023 Q3 to INR 3,353 crores, compared to INR 2,986 crores during the corresponding three months in FY 2022.

For the nine months ended 31 December 2022, Mahindra Finance’s profit after tax was INR 1,396 crores, compared to a profit after tax of INR 522 crores during the corresponding nine months of the previous fiscal year.

According to Mahindra Finance, the company’s total Income was up by 9% at INR 9,296 crores during the nine-month ended 31 December 2022, compared to INR 8,503 crores during the corresponding nine-month period of the previous fiscal year.