Mahindra & Mahindra Financial Services’ May disbursements jump 7%

4 Jun 2024 , 12:39 PM

Mahindra & Mahindra Financial Services Ltd reported a 7% year-on-year rise in disbursements to ₹4,430 Crore in May 2024.

The company recorded a high collection efficiency (CE) of 96% for the month. Furthermore, the combined value of Stage 2 and Stage 3 assets remained below 10%.

Mahindra & Mahindra Financial Services boasts a liquidity position of about ₹7,510 Crore on its balance sheet. Furthermore, the firm’s business assets increased by 23% year on year, reaching ₹1.05 Lakh Crore.

In the March quarter, Mahindra & Mahindra Financial Services recorded a net profit of ₹619 Crore, a 9.5% decrease from the previous year’s ₹684 Crore. The company’s net interest income for the quarter was ₹3,706.10 Crore, up by 21% year on year. Loan growth was high, with total assets increasing 24% year on year to ₹1.02 Lakh Crore.

Quarterly disbursements increased by 11% to ₹15,292 Crore. In April, the company disbursed around ₹3,930 Crore, a 4% increase from the previous year. Its collecting efficiency was 89%, compared to 92% the previous year.

At around 10.45 AM, Mahindra & Mahindra Financial Services was trading 1.94% lower at ₹268, against the previous close of ₹273.30 on NSE. The counter touched an intraday high and low of ₹275.05, and ₹263.45, respectively.

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