Mahindra Finance disbursements climb 7% YoY in May'24

Mahindra & Mahindra Financial Services (Mahindra Finance) recorded an overall disbursement of approximately Rs 4,430 crore in May 2024, delivering 7% year on year (YoY) growth.

For year to date (YTD) May 2024, disbursements increased 6% YoY to about Rs 8,360 crore.

The company said that business assets Rs 1,05,250 crore, a growth of 3% over March 2024 and around 23% over May 2023.

The collection efficiency (CE) was constant on YoY basis at 96% in May 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 7,510 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 8.4 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.

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 shed 1.48% to currently trade at Rs 269 on the BSE.

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