M&M Finance disbursements rises 3% YoY in Jun'24

Mahindra & Mahindra Financial Services informed that its overall disbursement increased 3% YoY to approximately Rs 4,370 crore in June 2024.

Mahindra Finances Q1 FY25 disbursements grew 5% YoY to about Rs 12,730 crore.

Business assets were at approximately Rs 1,06,200 crore in June 2024, grew by 22% over June 2023.

The collection efficiency (CE) was at 95% for June 2024 as against 96% in June 2023. For Q1 FY25, the CE is estimated at 94% same as that of previous year.

As at 30 June 2024, Stage-3 is estimated at about 3.6% as against 4.3% as at 30 June 2023 and Stage-2 is estimated at around 6.1% compared with 6.4% as at 30 June 2023.

 

The company said that it continued to maintain a comfortable liquidity position on its balance sheet, with a liquidity chest of over Rs. 8,000 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 8.7 million customers and has an AUM of over USD 11 Billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

Mahindra & Mahindra Financial Services standalone net profit fell 9.52% to Rs 618.99 crore on 21.25% increase in total income to Rs 3,706.10 crore in Q4 FY24 over Q4 FY23.

The scrip fell 0.91% to currently trade at Rs 299.45 on the BSE.

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