The company said that healthy disbursement trends during Q3 FY24 have led to business assets at around Rs 96,850 crore, registereing a growth of about 17% over March 2023 and approximately 25% over December 2022.

The collection efficiency (CE) was constant on YoY basis at 98% in December 2023.

Stage-3 assets is estimated at about 4% as on December 2023 as against 5.9% as at December 2022. Stage-2 assets are estimated at about 5.8% as of December 2023 as compared with 8.4% as at December 2022.

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

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 35.55% to Rs 994.10 crore in Q2 FY24 as against Rs 733.34 crore posted in Q2 FY23. However, total income increased 34% year on year to Rs 6548.20 crore in the quarter ended 30 September 2023.

The scrip ended 0.71% lower at Rs 273.20 on the BSE.