Mahindra Finance posts 87% profit growth in Q4

Earnings1-Getty-1200Mumbai: Mahindra Finance’s March quarter profit surged 87% to Rs.588 crores on the back of strong loans growth and improved recovery of past bad loans.

The lender which mostly caters to retail borrowers in rural and semi-urban markets expanded its assets under management 27% to Rs.67000 crores lead by growth in trucks.

“Despite the slowdown we increased our market-share through geographical diversification and deeper penetration,” said Ramesh Iyer, Managing Director and Vice Ch ..