Mahindra Finance Q3 profit rises 63% to Rs 899 crore

Mahindra & Mahindra Financial Services Q3 Results

Mahindra & Mahindra Financial Services on Tuesday reported a 63 percent 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 percent 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 percent.

The disbursement for the first nine months stands at approximately Rs 42,370 crore, which is 4 percent over the previous year.

The gross assets under management increased by 19 percent compared to the previous year, reaching Rs 1,15,126 crore.

"The collection efficiency remained stable at 95 percent, 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 percent year on year.