Interventions

How has been Q4 & FY20 for Mahindra Rural Housing Finance?

To cover the contingencies that may arise due to COVID–19 pandemic, MRHFL has incorporated the management overlays in the impairment loss allowance and the total provision recognised in the statement of profit and loss during the quarter is Rs. 121.18 crores

How has been Q4 & FY20 for Mahindra Rural Housing Finance?

During the quarter year ended March 31, 2020, Mahindra Rural Housing Finance Limited (MRHFL) registered income at Rs. 400.5 crores, as against Rs. 353.7 crores during the corresponding quarter last year, registering a growth of 13 percent over the same period previous year. The company incurred a loss of Rs. 11.7 crores during the quarter ended March 31, 2020, as against profit (PBT) of Rs. 103.9 crores during the corresponding quarter last year, a decline of 111 percent over the same period previous year.

The Profit After Tax (PAT) registered was Rs. 0.5 crores during the quarter ended March 31, 2020, as against Rs. 82 crores during the corresponding quarter last year, a decline of 99 percent over the same period previous year. The company in order to cover the contingencies that may arise due to COVID–19 pandemic, has incorporated the management overlays in the impairment loss allowance and the total provision recognised in the statement of profit and loss during the quarter is Rs. 121.18 crores.

During the financial year 2019-20, MRHFL registered income at Rs. 1527.6 crores as against Rs. 1383.9 crores of financial year 2018-19, registering a growth of 10 percent over same period previous year. The Profit Before Tax (PBT) registered was Rs. 205.6 crores during the financial year ended March 31, 2020, as against Rs. 366.2 crores during the corresponding period last year, a decline of 44 percent over same period previous year.

The Profit After Tax (PAT) registered was Rs. 148.6 crores during the financial year ended March 31, 2020, as against Rs. 250.5 crores of financial year 2018-19, a decline of 41 percent over same period previous year.

0 Shares
The Changing Face of Rural India