Mahindra & Mahindra Financial Services Limited (Mahindra Finance) reported robust financial performance for the third quarter and nine months ending December 31, 2024. The company’s standalone net profit surged to ₹899.47 crore for the quarter, a significant rise from ₹552.79 crore in the corresponding quarter last year. Consolidated net profit also grew to ₹917.64 crore from ₹622.95 crore a year ago.
Revenue growth fuels profits
The company’s revenue from operations on a standalone basis reached ₹4,143 crore for the quarter, reflecting a growth of over 20% compared to the same period last year. On a consolidated level, revenue stood at ₹4,796.80 crore, driven by higher interest income and gains from other financial services.
For the nine-month period, the standalone revenue totaled ₹11,762.69 crore, while the consolidated revenue reached ₹13,677.47 crore, both showing double-digit growth compared to the previous year.
Strong asset and portfolio management
Mahindra Finance reported total assets of ₹1,36,942.94 crore on a consolidated basis, an increase from ₹1,16,151.98 crore as of December 31, 2023. The company maintained a robust capital adequacy ratio of 17.81%, reflecting its sound financial health. Gross Stage-3 Assets stood at 3.93%, slightly improved from 3.97% last year.
Operational highlights
- Consolidated earnings per share (EPS) for the quarter were ₹7.43 (basic) compared to ₹5.05 last year.
- Impairment on financial instruments was managed effectively, with provisions aligning to updated credit loss models.
- The company’s Liquidity Coverage Ratio (LCR) remained well above regulatory requirements at 248%.
Raul Rebello, Managing Director & CEO of Mahindra Finance, said, “We are delighted to deliver another quarter of strong performance, driven by operational efficiencies and consistent growth across all our verticals. Our focus on customer-centric solutions and prudent risk management continues to yield positive outcomes.”
With the launch of new services, including a corporate insurance agency and enhanced digital offerings, Mahindra Finance aims to sustain its growth momentum. The board has also highlighted its commitment to strengthening its loan portfolio and diversifying revenue streams.
