Non-bank lender Mahindra & Mahindra Financial Services Ltd (M&M Fin) on Tuesday (October 28) reported a net profit of ₹564 crore for the second quarter, up 45% from ₹389 crore in the same period last year. Net Interest Income (NII) grew 14.6% year-on-year to ₹2,279 crore from ₹1,988 crore in Q2 FY25.

The company’s loan book expanded by 13% YoY, while total disbursements grew 3% to ₹13,514 crore. Tractor disbursements, however, surged 41% YoY, reflecting strong performance in this segment.

M&M Fin’s asset quality remained within the guided range, with Stage 3 (GS3) loans at 3.9% and Stage 2 plus Stage 3 (GS2+GS3) at 9.7%. The credit cost for the quarter ended September 30, 2025, was 2.2%.

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