M&M Financial Services surges 9% on healthy business growth in Q2FY23

In October 2022, Mahindra Finance estimates the total disbursement of approximately Rs 5,250 crore, thus delivering 97 per cent growth over October 2021.

Shares of Mahindra & Mahindra Financial Services (Mahindra Finance) surged 9 per cent to Rs 211.40 on the BSE in Thursday’s intra-day trade after the company reported healthy business growth in September quarter (Q2FY23), with disbursement up 83 per cent year-on-year (YoY) and 25 per cent sequentially at Rs 11,824 crore.

However, in Q2FY23, Mahindra Finance’s net interest income grew 2 per cent YoY and declined by 2 per cent QoQ at Rs 1,517 crore. Net interest margins came in at 7.5 per cent in line with what management had guided.

The profit after tax (PAT) came at