Mahindra Financial Services

The company will initially invest Rs 5 crore to Rs 10 crore towards technology, hiring and training and certification

The company said the margins were impacted by higher borrowing rates coupled with change in portfolio mix in favour of better credit quality customers.

From Ramesh Iyer, VC & MD at Mahindra Financial Services to Rakesh Singh, MD & CEO at Aditya Birla Finance, here is the list of panelists from NBFCs

Mahindra & Mahindra Financial Services on Thursday reported a consolidated net profit of Rs 240 crore for June quarter aided by fall in expenses and higher income from business operations. The company had posted a net loss of Rs 1,573.40 crore in April-June 2021-22. The loss in the year-ago period was due to the impact of second wave of COVID-19, Mahindra & Mahindra Financial Services (Mahindra Finance) said. The net profit in the period was 62 per cent lower when compared to the previous March quarter. Total income during April-June 2022-23 increased to Rs 2,914 crore from Rs 2,567 crore earlier, Mahindra Finance said in a regulatory filing. Interest income was up at Rs 2,766 crore as against Rs 2,465 crore. Besides, total expenses for the Mahindra group's non-banking financial arm fell 45 per cent to Rs 2,607 crore as against Rs 4,725 crore. Though the expenses were higher from Rs 2,035 crore in March 2022 quarter. The June quarter earnings include results from as many as .

Mahindra & Mahindra Financial Services on Thursday reported a consolidated net loss of Rs 223 crore for the third quarter ended December 2020. The financial services provider had posted a net profit of Rs 475 crore in the year-ago quarter. The total income declined by 3 per cent to Rs 2,993 crore during the third quarter as against Rs 3,081 crore in the same quarter last fiscal, Mahindra Finance said in a release. However, for the nine months ended December 2020, the company has posted a 34 per cent decline in consolidated net profit to Rs 561 crore compared to Rs 847 crore a year ago. Total income during April-December was up 3 per cent at Rs 9,132 crore as against Rs 8,856 crore in the same period previous fiscal. On a standalone basis, there was a net loss of Rs 274 crore in the third quarter. It had posted a net profit of Rs 365 crore in the year-ago period. Standalone income was down 2 per cent at Rs 2,575 crore. On asset front, the company's gross stage levels (or bad loan

Better product-mix with rising share of pre-owned vehicles helped Mahindra Finance's profitability

The QIP opened on November 30 and closed on December