M&M Finance's Q4 net profit falls 9.5% YoY; offers Rs 6.30 per share dividend

Deferred quarterly earnings: Mahindra & Mahindra Financial Services, which announced its financial results, has witnessed a year-on-year (YoY) fall of 9.5 per cent in the net profit for the quarter ending March at Rs 619 crore as compared to Rs 684 crore, which the company had registered in the same period last year.

As per filings made on the exchanges, M&M Finance also announced that the board has proposed a final dividend of Rs 6.30 per fully paid equity share of the company.

As per M&M Finance, it has seen a steady performance for the quarter and year to date (YTD). It said business assets have crossed Rs 1 lakh crore at  Rs 1,02,597 crore and recorded 24 per cent YoY growth. 

The non-banking lender said it made a disbursement of Rs 56,208 crore in  FY24 witnessing 13 per cent YoY  growth. In the quarter ending March, it registered disbursement of Rs 15,292 crore, witnessing 11 per cent YoY growth.   The capital adequacy remained robust at 18.9 per cent with Tier-1 Capital at 16.4 per cent, it added. The provision coverage on stage 3 loans remained prudent at 63.2 per cent. Total liquidity buffer remained comfortable at Rs 7,950 crore, the statement further added. 

The Net Interest Income (NII) margins improved QoQ to 7.1 per cent vs 6.8 per cent while in the Financial Year 24 NII saw 6.8 per cent YoY growth as against 7.6 per cent in the corresponding period.