Israel Consulate gesture towards Mahindra`s Nanhi Kali prog

The Consulate of Israel in Mumbai on Thursday donated Rs 3,60,000 in cheque to Nanhi Kali, a national girl child programme run jointly by Mahindra Group`s non-profit education.

Mumbai: The Consulate of Israel in Mumbai
on Thursday donated Rs 3,60,000 in cheque to Nanhi Kali, a national
girl child programme run jointly by Mahindra Group`s
non-profit education arm K C Mahindra Education Trust and
Naandi Foundation.

Mahindra Group Chairman and Managing Director Anand
Mahindra received the cheque from Consul General of Israel,
Orna Sagiv here on the occasion of Israel`s 62nd Independence
Day.

"Mahindra Group has been working towards providing
quality education to under-privileged children, especially
girl children. I really appreciate the Israel Consulate`s
initiative and hope that such steps will empower these
children to lead independent lives," Anand Mahindra said.

Nanhi Kali, initiated by Anand Mahindra in 1996,
currently supports the education of over 56,264
under-privileged children across the country.

With about 450-odd branches across the country, the
company plans to focus on utility and commercial vehicles as
well as construction equipment finance this fiscal.

For the quarter ended March 31, the company posted a
profit of Rs 144-crore, up 31 per cent from Rs 110-crore in
the same period a year ago.

On a stand-alone basis, Mahindra Finance`s net profit
grew by 31 per cent in the fourth-quarter at Rs 108-crore. It
ended the year at Rs 343-crore, up 60 per cent from Rs
215-crore in FY 09.

The company subsidiaries-- Mahindra Insurance Brokers
(MIBL) and Mahindra Rural Housing Finance (MRHFL)--also posted
profits in FY 10.

While MIBL`s net profit was up 83 per cent at Rs
11-crore as against Rs 6-crore the previous year, MRHFL made a
turnaround at Rs 2-crore. It had made a loss of one-crore in
the year-ago period.

PTI