In October, Mahindra Finance disbursed approximately Rs 5,250 crore; shares rise 1%

3 Nov 2023 , 11:52 AM

On November 3, trading saw a 1% increase in shares of Mahindra & Mahindra Financial Services following the financial services company’s announcement that its October disbursements totaled approximately Rs 5,250 crore, which is comparable to the same amount as the previous year.

The company has disbursed almost Rs 30,700 crore so far this year, representing a 16% increase in comparison to the same period last year.

Shares of Mahindra Finance were up 0.9% from the previous session’s closing price as of 9.30 am on the NSE, trading at Rs 253.2.

In October, the collection efficiency was 94% as opposed to 91% in the same month the previous year. As of September 2023, Stage-3 and Stage-2 assets were still restricted to a certain range.

With a liquidity chest of more than 2.5 months, Mahindra Finance has a solid position of liquidity on its balance sheet.

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