MUMBAI: Non-bank lender Mahindra Finance on Tuesday reported a 9 per cent decline in standalone revenue to Rs 563 crore within the March quarter. The Mahindra Group’s monetary providers arm had posted a internet revenue of Rs 619 crore within the year-ago interval.
Its core internet curiosity earnings grew 9 per cent to Rs 2,156 crore, on a 17 per cent progress within the mortgage e-book, however restricted by a narrowing within the curiosity margin to six.5 per cent from the 7.1 per cent within the year-ago interval.
The general disbursements had been up by 2 per cent through the reporting quarter.
Provisions or credit score prices surged 34 per cent to Rs 457 crore as in opposition to Rs 341 crore within the year-ago interval, proving to be a dampener on backside line.
On the asset high quality entrance, the GS2+GS3 ratio was at 9.1 per cent, and the stage 3 was at 3.7 per cent.
The general capital adequacy ratio was at a cushty 18.3 per cent, and the liquidity buffer was Rs 10,400 crore.
