Non-banking Financial company Mahindra & Mahindra Financial Services announced Q2FY24 & H1FY24 results: 1. Financial Performance: - Disbursement growth in Q2FY24 was 13% YoY, with a sequential growth of 9%. - Loan book increased to Rs 93,723 crore, reflecting a YoY growth of 27% and a sequential growth of 8.1%. - Gross Stage 3 (GS 3) remained stable at 4.3% compared to Q1FY24 (6.7% in Q2FY22). - Revenue was Rs 6,366 crore, indicating a YoY growth of 25% in H1FY24. - Profit after tax (PAT) for Q2FY24 was Rs 235 crore, a decline from Rs 448 crore in the previous year due to provision reversals. 2. Standalone Results: - Net interest income in Q2FY24 increased by 9% YoY to reach Rs 1,674 crore, with a net interest margin of 6.5%. - Credit cost during Q2FY24 was Rs 627 crore (2.4% of average assets) compared to Rs 198 crore (1.0%) in Q2FY23. - Capital adequacy ratio remained healthy at 18.7%. - Liquidity buffer of approximately Rs 8,300 crore was maintained, covering over 2.5 months' gross obligation. 3. Consolidated Results: - Total income for Q2FY24 increased by 28% to Rs 3,863 crore, with a PAT of Rs 287 crore. - Total income for H1FY24 increased by 26% to Rs 7,500 crore, with a PAT of Rs 649 crore. 4. Operations: - Disbursement growth in Q2 was broad-based, with a YoY growth of 13% and a sequential growth of 9%. - Collection efficiency remained strong at 96%. - Asset quality was maintained, with Stage-3 assets at 4.3% and Stage-2 assets improving to 5.7%. - Company's market share in various segments was maintained. Result PDF