Collection efficiency improves to 97%
Mahindra & Mahindra Financial Services achieved total disbursement of more than Rs. 2,000 crore for the second month in a row in August 2021.The total disbursement at Rs. 2,150 crore delivered 57% YoY growth, albeit on a lower base of August 2020, which was impacted by the first wave of COVID-19.
The collection efficiency was reported at 97% for August 2021, further improving on 95% reported in July 2021 (collection efficiency in April, May and June was 72%, 67%, 90% respectively).
"With opening of the economy and improved mobility, the Company witnessed a meaningful reduction in the NPA contracts during the month as customer cash flows improved. We believe that this is a very encouraging sign. The Company expects this downward trajectory to continue in September and in months to come. The Company enjoyed a comfortable liquidity position on its Balance Sheet as on date", said the company.
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