Money & Banking
The company continued to hold adequate liquidity buffer of approximately ₹8,775 crore
Mahindra Finance reported a 272 per cent year on year jump in its disbursements in May 2022 to Rs 2,973 crore. “The year to date disbursements at approximately ₹5,686 crore, registered a year on year growth of 169 per cent,” it said on Friday.
The collection efficiency (CE) was at 95 per cent for May 2022 in comparison to a subdued CE of 67 per cent for May 2021 which was affected due to Covid related lockdowns, it said,adding that it is now in line with pre-Covid levels.
“With momentum in collections witnessed so far, we expect a lower volatility on Stage 3 assets during the first quarter of fiscal 2022-23,” it said. The company continued to hold adequate liquidity buffer of approximately ₹8,775 crore as on May 31, 2022 which covers about three months funds requirement.