Mahindra Finance January disbursement up 31% YoY at Rs 2,320 Cr
Mahindra & Mahindra Financial Services announced that, In January, the business continued its momentum with a disbursement of approximately Rs 2,320 Crore delivering a 31 per cent Y-o-Y growth. The YTD disbursement at approximately Rs. 20,700 Crore, registered a Y-o-Y growth of 40 per cent.
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Mumbai, Feb 04 Mahindra & Mahindra Financial Services announced that, In January, the business continued its momentum with a disbursement of approximately Rs 2,320 Crore delivering a 31 per cent Y-o-Y growth. The YTD disbursement at approximately Rs. 20,700 Crore, registered a Y-o-Y growth of 40 per cent.
The collection efficiency (CE) was at 96 per cent for January, up year-on-year (January 2021 CE was 94 per cent), in line with expectations.
The positive trend in collections led to on a month-on-month improvement in Asset Quality. Stage 2 have shown a visible improvement and Stage 3 have remained stable. The company expects further improvement in Stage 2 and Stage 3 numbers by end of March. The Company reiterates its commitment to bring the Net Stage 3 below 4 per cent by year end.
During January, the Company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 3 months.
