For year to date (YTD) November 2023, disbursements increased 16% YoY to approximately Rs 36,000 crore.

The company said that healthy disbursement trends in the current period have led to business assets at around Rs 96,600 crore, registereing a growth of about 17% over March 2023 and approximately 26% over November 2022.

The collection efficiency (CE) was at 94% in November 2023 as against 96% recorded in the same period a year ago.

Stage-3 and Stage-2 assets continued to remain rangebound compared to September 2023, said the firm.

The company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over 2.5 months, it added.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

The company's net profit tumbled 47.54% to Rs 235.18 crore in Q2 FY24 as against Rs 488.35 crore posted in Q2 FY23. However, total income increased 24.19% year on year to Rs 3,240.49 crore in the quarter ended 30 September 2023.

The scrip fell 0.90% to end at Rs 275.20 on the BSE.