Mahindra Finance Dec qtr net at Rs 992 crore as loan disbursals pick-up, bad loans dip
Zee News
Compared sequentially, the net profit was down from Rs 1,103 crore in the September 2021 quarter.
New Delhi: Mahindra and Mahindra Financial Services (Mahindra Finance) on Wednesday reported a consolidated net profit of Rs 992 crore for the December 2021 quarter.
The company, catering to rural and semi-urban customers for buying new and pre-owned auto and utility vehicles, saw a growth of 28 cent in loan disbursals, improved collection efficiency as well as fall in gross bad loans proportion, which helped the December quarter numbers.
It had reported a consolidated net loss of Rs 223 crore in same quarter a year ago, mainly due to the pandemic-induced stress in the economy.
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