Mahindra & Mahindra Financial Services reported a strong set of earnings this quarter. Their profit jumped 80 percent this time around while the asset quality also improved.
Ramesh Iyer, VC and MD of the company said that deeper penetration in rural economy aided disbursement growth. "We have added more than 100 branches in Q4 of FY18."
“We are a multi-product company financing all vehicles ... tractors, pre-owned vehicles, pre-owned tractors, all kinds of products out in the rural market,” he added.
He further said that the company finances the expansion of small and medium enterprises (SMEs) in terms of their capacity additions, their working capital requirements.
Talking about commercial vehicle and construction equipment (CV/CE) segment, he said, “We are not a significant player though but we are currently managing about Rs 400 odd crore book and we do see traction in semi-urban, rural market.”