Mahindra Finance rises after disbursements rise to Rs 2,973-cr in May22

3 Jun 2022 , 12:40 PM

The YTD disbursements at approximately Rs 5,686 crore, registered a YoY growth of 169%. The collection efficiency (CE) was at 95% for May 2022 in comparison to a subdued CE of 67% for May 2021 which was affected due to Covid related lockdowns. The CE is in line with pre-Covid levels. With momentum in collections witnessed so far, we expect a lower volatility on Stage 3 assets during Q1 FY 2023, Mahindra Financial said in a statement. The company continued to hold adequate liquidity buffer of approximately Rs 8,775 crore as on 31 May 2022 which covers approximately 3 months funds requirement. Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of Indias leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 7.9 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The companys net profit surged to Rs 601 crore in Q4 FY22 from Rs 150 crore in Q4 FY21. Powered by Capital Market – Live News