Mahindra -; Mahindra Financial Services disburses Rs2,733 crore of loans in February 2022, up 44% yoy

4 Mar 2022 , 01:08 PM

Mahindra & Mahindra Financial Services Limited has disbursed approximately Rs2,733 crore of loans in February 2022, registering a 44% yoy growth. The year-to-date (YTD) total disbursement was Rs23,632 crore, a growth of 42% over the same period last year.

The collection efficiency (CE) remained stable at 98% for the month of February 2022, same as February 2021.

“This was in line with expectations. The positive trend in collections led to on a month-on-month improvement in Asset Quality. Stage 2 and Stage 3 have shown a visible improvement. The company expects further improvement in Stage 2 and Stage 3 numbers by end of March 2022.

The Company is confident of meeting its commitment to bring the Net Stage 3 below 4% by year end. During February, the Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 3 months,” company said in a filing on Thursday.

At around 1.10 pm, Mahindra & Mahindra Financial Services Ltd was trading at Rs141.05 per piece down by Rs1.05 or 0.74% from its previous closing of Rs142.10 per piece on the BSE.