Mahindra & Mahindra Financial falls on lower Oct-Dec earnings

January 23, 2014

Reuters Market Eye - Mahindra and Mahindra Financial services Ltd fell after reporting October-December net profit fell 18 percent on year to 1.64 billion rupees.

Edelweiss said Mahindra and Mahindra Financial earnings "came much below estimates," citing an increase in asset quality stress and gross non-performing loans, as well as weakness in southern India.

Shares of Mahindra and Mahindra Financial down 5.6 percent at 2.51 p.m.

(Reporting by Dipika Lalwani)