You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Mahindra Finance vaults as disbursements rise 14% YoY in November

Capital Market 

Mahindra & Mahindra Financial Services advanced 3.18% to Rs 162.40 after the company said that its disbursements have risen by 17% YoY to Rs 2,500 crore.

The collection efficiency improved further to 94%, up both year-on-year (November 2020 - collection efficiency was 84%) and sequentially (October 2021 - collection efficiency was 91%).

This improved customer payment behaviour has reflected in a month-on-month reduction in Stage 2 and stability in Stage 3, compared to October 2021.

The company expects this positive trend to continue in December. This will aid in further reduction in Stage 2 and Stage 3 contracts by December end.

The company continued to enjoy a comfortable liquidity position on its balance sheet as at November 2021 end, with a liquidity chest of well over 3.5 months.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is a non-banking finance company. The company is a vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits and is focused on the rural and semi-urban sector.

The company's consolidated net profit surged 1,099.78 crore in Q2 FY22 from Rs 351.35 crore in Q2 FY21. Total income fell 2.9% to Rs 2,982.62 crore during the quarter.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, December 02 2021. 15:50 IST