Mahindra & Mahindra Financial Services

M&M Finance stock drops 8% on weak Q2 numbers; What should investors do?

M&M Finance's net interest income (NII) margin for Q2FY25 remained flat at 6.5 per cent, while gross non-performing assets rose to 3.83 per cent, from 3.56 per cent earlier

M&M Fin Services Q1 results: Net profit jumps 45% to Rs 513 crore

Mahindra and Mahindra Financial Services on Tuesday reported a 45 per cent jump in June quarter net profit to Rs 513 crore. The non-bank lender had reported a net profit of Rs 353 crore in the year-ago period. The core net interest income grew 15 per cent to Rs 1,932 crore and the interest margin narrowed to 6.6 per cent from 7.1 per cent in the same period of the previous quarter. Its total income grew 20 per cent to Rs 3,760 crore during the reporting quarter, and the assets under management were up 23 per cent at Rs 1.06 lakh crore. Its credit costs declined to Rs 448 crore from the Rs 526 crore in the year-ago period, helping in the profit growth. In a statement, it said the collection efficiency remained at 94 per cent and the non-performing assets were also within the thresholds. The company scrip closed at Rs 295.90 apiece on the BSE on Tuesday, 1.16 per cent higher than its previous close.

Mahindra Finance's CFO Vivek Karve resigns; to pursue other interests

However, he will continue with the company beyond his notice period, till October 31, 2024, to ensure a smooth transition

M&M Finance appoints Mahesh Rajaraman as CRO, to replace Mallika Mittal

Mahindra & Mahindra Financial Services on Tuesday said it has appointed Mahesh Rajaraman as Chief Risk Officer (CRO) of the company with effect from August 1, 2024. In a regulatory filing, Mahindra Finance said Mallika Mittal has tendered her resignation and ceased to be the CRO of the company with effect from May 17. Mittal would be exploring opportunities externally as per her resignation letter. Her resignation would be effective from close of business hours on November 16, 2024, when she would cease to be employee of the company, it added. The Non-banking Finance Company (NBFC) said in the interim period that Gaurav Verma, Head Underwriting & Product Policy, would exclusively oversee the risk management function and would be responsible for the responsibilities under the role of CRO until Rajaraman joins as the CRO. Rajaraman, who has been appointed for a 5-year term, holds 29 years of experience in the banking sector with demonstrated ability in leading and building ...

M&M Finance detects Rs 150 cr vehicle loan fraud, postpones board meeting

Stock down 5.5 per cent at close on BSE

Tata Consumer, ICICI Prudential Life among major Q4 results today

Mahindra & Mahindra Financial Services has deferred its Q4 earnings meeting and subsequent announcement due to fraud detected by the company

Mahindra Finance Q3 results: Net profit down 12% due to higher credit costs

The net profit of the company stood at Rs 629 crore in Q3 FY23. However, sequentially, the profit increased by 135 per cent from Rs 235 crore in Q2 FY24

Mahindra Finance to foray into life, health, and general insurance

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

M&M Financial Services banks on H2 recovery and strong valuations

In Q2FY24, net profit plummeted by 48 per cent Y-o-Y, while core profit before tax increased by 10 per cent Y-o-Y. This miss was largely due to higher provisions (up by 216 per cent Y-o-Y)

Rs 4,500 crore disbursed in September at 11% YoY growth: Mahindra Finance

For the first half of FY2024, Rs 25,500 crore was disbursed, leading to a growth of 20 per cent YoY

RBI releases list of NBFCs in upper layer under scale-based regulations

In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years

M&M Finance, Blue Star: Trading strategies for 5 highly overbought stocks

Mahindra & Mahindra Financial Services, Sonata Software Limited, and Blue Star may rise up to 10 per cent in the overbought territory of RSI.

RBI lifts curbs on loan recovery via third parties: M&M Financial Services

MMFSL shares had plunged over 20% following the order in September, before recouping those losses by December

Mahindra Finance up 6%, hits 52-week high on healthy disbursements in Nov

The company recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 per cent YoY growth, on the backdrop of positive macro environment.

'Not possible to do away with repossession agents': Mahindra Finance MD

'Specialised people' needed to ensure loan defaulters don't cheat company, says Ramesh Iyer in interview

M&M Financial Services net profit falls 55% to Rs 492 cr in July-September

Mahindra & Mahindra Financial Services (Mahindra Finance) on Wednesday reported over 55 per cent decline in its net profit at Rs 492 crore in the quarter ended September 2022. In the year ago same quarter ended September 2021, it had posted a net profit of Rs 1,103 crore. Total income increased 3 per cent to Rs 3,029 crore during the quarter under review against Rs 2,951 crore during the corresponding quarter last year, it said in a release. The non-banking finance company focused on providing financial services in the rural and semi-urban markets said in Q2FY22 it had witnessed significant reversal of impairment provisions due to improvement in asset quality which had deteriorated during Q1 FY22 during the second wave of Covid-19. This had resulted in a higher profit after tax.

Motherson Sumi Wiring India Q2 net profit rises 2% to Rs 116 crore

Auto component maker Motherson Sumi Wiring India Ltd on Monday reported a 2 per cent rise in net profit at Rs 116.45 crore in the second quarter ended September 30, 2022. The company had posted a net profit of Rs 114 crore in the same period last fiscal, Motherson Sumi Wiring India Ltd (MSWIL) said in a regulatory filing. Total revenue from operations stood at Rs 1,835.21 crore as against Rs 1,399.95 crore in the year-ago period, it added. Total expenses were higher at Rs 1,689.77 crore as compared to Rs 1,229.76 crore in the same quarter a year ago. "The Indian automotive industry is showing signs of revival and our customers are also ramping up production. This has resulted in one-time costs, which should be mitigated in the coming quarters," MSWIL chairman Vivek Chaand Sehgal said. In the second quarter, the company said it had incurred costs due to initial one-time startup costs of new programmes at Bengaluru and new facility at Chennai. Besides, to meet increased volume, ...

M&M Finance soars 10% as asset quality improves in September quarter

As on September 30, 2022, the company expects its Gross Stage 3 to be around 7 per cent as compared to 8 per cent in Q2FY23 and Gross Stage 2 to be around 10 per cent as against 11.7 per cent.

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

M&M Financial tanks 14% as RBI bars third-party services for loan recovery

In a circular, the RBI said that the non-banking finance company may continue to carry out recovery or repossession activities, through its own employees.