On a standalone foundation, within the September quarter, internet jumped 57 per cent to Rs 369 crore, however the identical was down 25 per cent over the Rs 513 crore within the previous June quarter.
The core internet curiosity earnings grew 19 per cent over the yr for the September quarter at Rs 1,991 crore, on the again of a 20 per cent development in gross mortgage e-book and the online curiosity margin remaining steady at 6.5 per cent.
The corporate, nonetheless, mentioned that car finance slowed down in the course of the April-September interval and the disbursements have been up by solely 2 per cent within the first half of the yr.
The tractor section contributed to 40 per cent of the uptick in careworn belongings in the course of the September quarter, the corporate mentioned, including that the stage-3 belongings at 3.8 per cent have been higher than the 4.3 per cent within the year-ago interval. Among the many subsidiaries, Mahindra Rural Housing Finance reported a 37 per cent decline within the September quarter internet at Rs 7 crore, Mahindra Insurance coverage Brokers’ internet revenue was down 55 per cent at Rs 13 crore whereas Mahindra Manulife Funding Administration incurred a lack of Rs 2 crore. The Mahindra and Mahindra Monetary Companies scrip closed 2.48 per cent down at Rs 281.55 a chunk on the BSE on Tuesday, as towards a 1.15 per cent correction on the benchmark.
