Mahindra Finance's Profits Surge Amid Festive Boom

Mahindra & Mahindra Financial Services reported a 63% increase in profit after tax to Rs 899 crore for Q3, leveraging festive demand for significant growth. Total income rose by 19%, and gross assets under management increased by 19%, highlighting the company's strong financial performance and stable asset quality.

Mahindra & Mahindra Financial Services has reported a substantial 63 percent increase in its standalone profit after tax, reaching Rs 899 crore in the third quarter of the current fiscal year.

The October-December 2023-24 quarter saw the company achieving a total income of Rs 4,144 crore, marking a 19 percent rise year-on-year, as per the official statement released on Tuesday.

Driven by the festive season demand, Mahindra Finance's disbursements stood at Rs 16,467 crore, reflecting a 7 percent growth compared to the previous year. The gross assets under management surged by 19 percent to Rs 1,15,126 crore, while maintaining stable collection efficiency and steady asset quality.

(With inputs from agencies.)