Mahindra Finance Disbursement Rises By 11 percent YoY In September 2023

Mahindra Finance Disbursement Rises By 11 percent YoY In September 2023

For H1FY2024, the disbursement of approximately Rs. 25,500 crores resulted in growth of 20 percent on a Y-o-Y basis.

FPJ Web DeskUpdated: Tuesday, October 03, 2023, 04:04 PM IST
article-image
Mahindra Finance Disbursement Rises By 11 percent YoY In September 2023 | Mahindra Finance

In September 2023, Mahindra and Mahindra Finance Service Limited estimated the overall disbursement at approximately Rs. 4,500 crores delivering an 11 percent Y-o-Y growth. The Q2FY2024 disbursements at approximately Rs. 13,300 crores result in a growth of 12.6 percent Y-oY.

For H1FY2024, the disbursement of approximately Rs. 25,500 crores resulted in growth of 20 percent on a Y-o-Y basis.

Healthy disbursement trends during Q2FY2024 together with pre-festival dealer advance have led to Business Assets at approximately Rs. 93,600 crores, growth of approximately 13 percent over March 2023 and approximately 8 percent over June 2023.

Collection efficiency

The collection efficiency (CE) was at 97 percent for September 2023, a marginal improvement over 96 percent achieved in August 2023. September 2022 recorded a CE of 98 percent.

Stage-3 is estimated at 4.4 percent (4.3 percent as at June 2023) while Stage-2 is estimated at 5.8 percent (6.4 percent as at June 2023).

The Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 2.5 months.

Mahindra and Mahindra Finance Service Limited shares

The shares of Mahindra and Mahindra Finance Service Limited on Tuesday at 3:30pm IST were at Rs 301.50, up by 0.050 percent.

RECENT STORIES

RBI's MPC Meet Begins Amid Expectations Of Status Quo On Interest Rate

RBI's MPC Meet Begins Amid Expectations Of Status Quo On Interest Rate

Rupee Rises 5 Paise To Close at 83.32 Against US Dollar

Rupee Rises 5 Paise To Close at 83.32 Against US Dollar

Indian Banks Push For Five-Day Workweek, Submit Formalc For Holidays On Every Saturday

Indian Banks Push For Five-Day Workweek, Submit Formalc For Holidays On Every Saturday

Adani Group To Invest US Dollar 75 Billion To Scale Up AGEL's RE Portfolio To 45 GW: Gautam Adani

Adani Group To Invest US Dollar 75 Billion To Scale Up AGEL's RE Portfolio To 45 GW: Gautam Adani

Closing Bell: Indices End At Record High; Sensex At 69,653.73, Nifty At 20,937.70

Closing Bell: Indices End At Record High; Sensex At 69,653.73, Nifty At 20,937.70