Mahindra & Mahindra Financial Services (Mahindra Finance) recorded an overall disbursement of approximately Rs 4,530 crore in July 2024, delivering 3% year on year (YoY) growth.
For year to date (YTD) July 2024, disbursements increased 5% YoY to about Rs 17,270 crore.The company said that business assets Rs 1,07,300 crore, a growth of 5% over March 2024 and around 22% over July 2023.
The collection efficiency (CE) was constant on YoY basis at 95% in July 2024.
Stage 3 and Stage 2 assets have remained below 10% put together, it added.
The company stated that it continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over Rs 7,600 crore.
Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 10 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 NBFCs standalone net profit jumped 45% to Rs 513 crore on 20% increase in total income to Rs 3,760 crore in Q1 FY25 over in Q1 FY24.
The scrip shed 0.34% to close at Rs 305.25 on Friday, 2 August 2024.
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