Mahindra Finance Q2 net profit surges 55% to Rs 882 crore on volumes, lower credit cost

What happened: Mahindra Finance reported a 55% rise in Q2 net profit to Rs 882 crore, driven by volumes and lower credit cost. Key numbers: Net profit Rs 882 crore, up 55%. Revenue from operations Rs 5,164 crore, up 15%. Net interest income Rs 2,822 crore, up 17%. Consolidated net profit Rs 911 crore, up 61%. Credit cost 1.6% of average total assets versus 2.2% a year earlier. Disbursements Rs 16,499 crore, up 22%. Why it matters: Credit cost moderated while asset quality improved, and the company is targeting a return on assets of 2.2%-2.5% by FY31 versus 2.2% in the September quarter.

Mahindra Finance reported a 55% rise in Q2 net profit to Rs 882 crore, driven by volumes and lower credit cost.

Credit cost moderated while asset quality improved, and the company is targeting a return on assets of 2.2%-2.5% by FY31 versus 2.2% in the September quarter.