Page 3 - Mahindra Finance

M&M Finance eyes Rs 20,000-crore small-ticket loans via e-platform

The company expects to build a strong balance sheet in digital business unit which will not just add to the growth of M&M Finance but also help to retain existing customers

Mahindra Finance reports net loss of Rs 223 cr in December quarter

Mahindra & Mahindra Financial Services on Thursday reported a consolidated net loss of Rs 223 crore for the third quarter ended December 2020. The financial services provider had posted a net profit of Rs 475 crore in the year-ago quarter. The total income declined by 3 per cent to Rs 2,993 crore during the third quarter as against Rs 3,081 crore in the same quarter last fiscal, Mahindra Finance said in a release. However, for the nine months ended December 2020, the company has posted a 34 per cent decline in consolidated net profit to Rs 561 crore compared to Rs 847 crore a year ago. Total income during April-December was up 3 per cent at Rs 9,132 crore as against Rs 8,856 crore in the same period previous fiscal. On a standalone basis, there was a net loss of Rs 274 crore in the third quarter. It had posted a net profit of Rs 365 crore in the year-ago period. Standalone income was down 2 per cent at Rs 2,575 crore. On asset front, the company's gross stage levels (or bad loan

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Covid-19: Mahindra Finance expects loan recast worth Rs 6,000 crore

Out of 1.6 million customers, 100,000-150,000 accounts are likely to come up for restructuring, according to the company

Mahindra Finance to acquire 58.2% stake in Sri Lankan firm Ideal Finance

Mahindra Finance has been looking at expanding its market overseas as part of its global growth strategy

Mahindra Finance to raise around Rs 3,500 cr via non-convertible debentures

Mahindra & Mahindra Financial Services is planning to raise up to Rs 3,500 crore through a non-convertible debenture issue of various maturities. The base issue size is Rs 500 crore with an option to retain oversubscription up to Rs 3,000 crore, the non-banking finance company said here Thursday. The funds raised through this first tranche will be used for the purpose of onward lending, financing, refinancing the existing debts, long-term working capital and for general corporate purposes. The NCDs bear a fixed interest rate, and are being offered under four different series. Series I (39 months), Series II (60 months) and Series III (96 months) are offered as secured NCDs, while Series IV (120 months) is unsecured subordinated debt. Investors will get 9 to 9.50 percent per annum, respectively, payable annually. The amount reserved for secured and unsecured bonds, opening on January 4 and closing on 25, is Rs 2,500 crore and Rs 1,000 crore, respectively. The lead ..

Mahindra Finance Q2 PAT up 132% to Rs 3.81 bn, AUM sees 26% y-o-y growth

Gross NPAs have come down from 13.1% in Q2 FY2018 to 9% at the end of Q2 FY2019

Mahindra Finance approves raising funds up to Rs 2,250 crore

The company said its board has constituted a securities issue committee to decide on the proposed issuance

Mahindra Finance raises Rs 350 crore via debt securities

Shares of Mahindra Finance closed 2.77% up at Rs 438.95 apiece on BSE

Mahindra Finance to raise Rs 2,000 cr via NCDs to fund future lending

Mahindra will float NCDs to raise the money, which will be open to subscription from July 10-28

Mahindra Finance seeks shareholders nod to raise Rs 29,000 cr via NCDs

NCDs constitute a significant source of borrowings for the company

Mahindra Finance Apr-Jun net at Rs 107 crore

Company's consolidated total income has increased to Rs 1,578.55 crore for the quarter ended June 2016

Ramesh Iyer re-designated as vice-chairman at Mahindra Finance

Dhananjay Mungale to take over new chairman, the company has said