M&M Financial Reports 7% Growth in May Disbursements, Assets Up 3%

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Synopsis:

In May 2024, Mahindra & Mahindra Financial Services recorded a 7% growth in disbursements totalling ₹4,430 crore. Business assets reached approximately ₹1,05,250 crore, up 3% from March 2024, with a net profit of ₹619 crore in Q4, down 9.5% YoY.

M&M Financial Services News Today

Mahindra & Mahindra Financial Services announced a 7% year-on-year increase in overall disbursement for May 2024, reaching ₹4,430 crore. This growth indicates continued momentum in the company's lending activities.

Explore: M&M FIN. SERVICES LTD

YTD Disbursements Up by 6%

The year-to-date disbursement for May 2024 stood at ₹8,360 crore, marking a 6% increase compared to the previous year. This sustained growth reflects the company's consistent performance over time.

Business Assets Surge

M&M Financial also reported that its business assets reached approximately ₹1,05,250 crore in May 2024, marking a notable 3% increase over March 2024 and a substantial 23% increase compared to May 2023. This growth signifies the company's expanding financial footprint.

Stable Collection Efficiency at 96%

The Collection Efficiency (CE) for May 2024 remained steady at 96%, mirroring the performance of May 2023. This stability indicates the company's robust collection practices and borrower repayment discipline.

Additional Read: M&M Finance Postpones Board Meeting After Fraud Discovery

Healthy Liquidity Position

The company maintained a comfortable liquidity position, boasting a liquidity chest of over ₹7,510 crore. This liquidity strength provides a solid foundation for its operations and lending activities.

Q4 Earnings Reca

Earlier in May, M&M Financial released its fiscal fourth-quarter earnings, reporting a net profit of ₹619 crore, down 9.5% compared to the same period last year. Despite this, the net interest income for the quarter saw a substantial 21% year-on-year increase, reaching ₹3,706 crore.

Strong Loan Growth and Disbursements in Q4

Total assets saw a robust 24% year-on-year increase to ₹1.02 lakh crore. Disbursements during the quarter rose by 11% to ₹15,292 crore, indicating continued demand for the company's financial products and services.

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