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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.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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