M&M Financial Services Q2 disbursements rise 60% to Rs 6450 cr

Mahindra & Mahindra Financial Services announced that in month of September 2021, the total disbursement at circa Rs. 1,900 crore delivered 23% YOY growth, albeit on a lower base, which was impacted by the first wave of COVID-19.

Consequently, during Q2 FY22, the total disbursement at circa Rs. 6,450 crore, delivered a YoY growth of 60% over Q2 FY21. Subject to improvement in auto supply chain, the Company is hopeful of a good Q3 FY22 ahead, supported by festival season and harvest cashflow.

With further improvement in mobility during September, the collection efficiency was reported at 100% for September 2021, a further improvement over levels of 95% and 97% in July and August, respectively. This resulted in further reduction in the NPA contracts during the month. The company expects this trend to continue in Q3 FY22.

 

The company enjoyed a comfortable liquidity position on its Balance Sheet as at 30 September 2021.

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