Mahindra Finance Doubles Profit Amid Economic Unrest

In a period marked by economic uncertainties, Mahindra and Mahindra Financial Services reported a significant increase in profits for the March quarter, with a net profit of Rs 940 crore compared to Rs 456 crore in the previous year, highlighting strong operational measures.

Chief Executive and Managing Director Raul Rebello attributed the financial success to factors like controlled funding costs, increased net interest margins, and improved asset growth, thus dismissing suggestions of benefits from a low baseline. Rebello mentioned that the economic impact of global tensions has led to setting aside Rs 217 crore for potential setbacks.

Stressing preparedness and resilience, Rebello confirmed uninterrupted collection efficiencies. He emphasized the company's cautious approach to disbursements, aiming for sustainable mid-teen growth in its asset portfolio, especially during geopolitical and financial turbulence.