For the third quarter (October-December 2021), the total disbursement stood at approximately Rs 18,100 crore, registering a Y-o-Y growth of 39%.

In December 2021, the collection efficiency (CE) improved further to 100%, up both year-on-year (December 2020 - CE was 96%) and sequentially (November 2021 - CE was 94%). For Q3, the collection efficiency works out to 95% (collection efficiency in Q3 of the last year was 88%).

This improved customer payment behaviour has reflected in a month-on-month reduction in Stage 2 and in Stage 3, compared to November 2021. The company expects this positive trend to continue in Q4.

This will aid in further reduction in Stage 2 and Stage 3 contracts by March 2022 end. The company stands committed to bring the Net Stage 3 below 4% by year end.

The company continued to enjoy a comfortable liquidity position on its balance sheet as at 31 December 2021, with a liquidity chest of well over 3.5 months.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is a non-banking finance company. The company is a vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits and is focused on the rural and semi-urban sector.

The company's consolidated net profit surged 1,099.78 crore in Q2 FY22 from Rs 351.35 crore in Q2 FY21. Total income fell 2.9% to Rs 2,982.62 crore during the quarter.