Mahindra Finance logs disbursement of Rs1,900cr in Sept 2021, rises by a whopping 60% yoy in Q2

Mahindra Finance said that consequently, during Q2 FY22, the total disbursement at circa Rs. 6,450 Crore, delivered a YoY growth of 60% over Q2 FY21.

Oct 05, 2021 03:10 IST India Infoline News Service

Mahindra Finance
Mahindra & Mahindra Financial Services recorded total disbursement at circa Rs1,900cr in September 2021, delivering 23% YOY growth, albeit on a lower base, which was impacted by the first wave of COVID-19.

In its regulatory filing, Mahindra Finance said that consequently, during Q2 FY22, the total disbursement at circa Rs6,450cr, delivered a YoY growth of 60% over Q2 FY21. Subject to improvement in the auto supply chain, the Company is hopeful of a good Q3 FY22 ahead, supported by festival season and harvest cash flow.

Further, Mahindra Finance stated that with further improvement in mobility during September, the collection efficiency was reported at 100% for September 2021, a further improvement over levels of 95% and 97% in July and August, respectively. This resulted in a further reduction in the NPA contracts during the month. Adding the company said, "We believe that this trend will continue in Q3FY22."

On Sensex, Mahindra Finance finished at Rs185.80 per piece down 1.5%.

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