Financial services

Mahindra & Mahindra Financial Services sees 272% growth in disbursements in May 2022

Mahindra & Mahindra Financial Services made a disbursement of approx. Rs 2,973 crore in the month of May 2022, delivering 272% year-on-year growth.

YTD disbursements at approx. Rs 5686 crore, recorded an annual growth of 169%.

Collection efficiency (CE) was 95% for May 2022, compared to a moderate CE of 67% for May 2021, which was impacted due to Covid-related lockdowns. CE is in line with pre-Covid levels.

With the collections momentum seen so far, the company expects lower volatility on Stage 3 assets in the first quarter of fiscal 2023.

The company continued to hold an adequate cash reserve of approximately Rs. 8,775 crore as of May 31, 2022, which covers the cash requirements of approximately 3 months

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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