Non-banking finance company Mahindra and Mahindra Financial Services reported a net profit of Rs 155 crore for the third quarter ended December 2011, an increase of 34 per cent from Rs 116 crore in the corresponding year-ago quarter.
The company maintained growth in its profits in spite of increased borrowing cost, by growth in business, focusing on non-performing assets reduction and cost rationalisation, said a press release issued by the company.
Disbursements grew by 36 per cent, during the quarter.