The Q3 FY2024 disbursements at about Rs 15,500 crore, registered a growth of 7% YoY and the YTD December disbursement estimated at approximately Rs 40,950 crore, registered a growth of 15% YoY.

The disbursement trends for Q3 FY24 have resulted in business assets to Rs 96,850 crore, a growth of about 17% over March 2023 and higher by approximately 25% over December 2022.

The collection efficiency (CE) was at 98% for December 2023, improvement over 94% achieved in November 2023. December 2022 recorded a CE of 98%.

The company’s stage-3 assets were at 4.0% at the end of December 2023 as against 4.3% as at September 2023 and 5.9% as at December 2022. The NBFC’s Stage-2 assets stood at around 5.8% at December 2023 as compared with 5.7% as at September 2023 and 8.4% as at December 2022.

"The company continued to enjoy a comfortable liquidity position on its Balance Sheet, with a liquidity chest of over 2.5 months,” Mahindra Finance said in a statement.

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.