Mahindra & Mahindra Financial Services on Tuesday reported a 63 per cent year-on-year increase in standalone profit after tax to Rs 899 crore in the third quarter of the current fiscal. Its profit was Rs 553 crore in the October-December quarter of 2023-24.
Mahindra Finance's total income was Rs 4,144 crore during the December 2024 quarter, up 19 per cent year-on-year, according to a statement.
The company said it leveraged the buoyancy of the festive season demand in Q3 with disbursements of Rs 16,467 crore reflecting a year-on-year growth of 7 per cent.
The disbursement for the first nine months stands at approximately Rs 42,370 crore, which is 4 per cent over the previous year.
The gross assets under management increased by 19 per cent compared to the previous year, reaching Rs 1,15,126 crore.
"The collection efficiency remained stable at 95 per cent, consistent with the same quarter of the previous year. With a continued focus on maintaining underwriting standards and addressing early-stage delinquencies, asset quality remained steady," it said.
Mahindra Finance's consolidated profit after tax stood at Rs 918 crore during the December 2024 quarter, up 47 per cent year on year.
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