Mahindra & Mahindra Financial Services Ltd.’s revenues in Q2FY23 rose 33% to ₹ 3,011 crores. Consolidated Profit came at ₹ 492 crores showcasing a 55% fall YoY over the corresponding period.
In this quarter’s investor presentation, the reports suggested that the firm has observed a fall in profits due to an drastic increase in Provisions other than tax and increase in expenses. The Bank has also seen asset quality worsening.