Year-on-year growth stood at about 16%, which is in line with the growth seen so far this year. Total assets under management (AUM), also referred to as gross business assets, stood at ₹96,600 crore in November, up 26% from the previous year.
However, monthly collection efficiency was lower, dropping to 94% from 96% in November 2022. It’s worth mentioning here that Diwali was in November this year and in October in 2022. "This explains the strong year-on-year growth in disbursements and the slight decline in collection efficiency," said Motilal Oswal Financial Services.
The festive period traditionally sees higher demand for automobiles, a key asset class for the company’s lending business. This is also the reason Mahindra Finance is likely to report relatively strong December quarter (Q3FY24) numbers.
Esta historia es de la edición December 11, 2023 de Mint Mumbai.
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