M&M Financial down 5%
By
Ruma Dubey
about 7 years ago
Mahindra & Mahindra Financial Services is amongst the top five losers on the BSE, down almost 5% at Rs.324 levels, its intra day low levels.
The market is very disappointed with the company’s performance for Q4Fy17. Though asset quality improved, there was a fall in profitability.
The company’s Gross NPA improved from 11.1% to 9% (QoQ) and Net NPA too bettered from 5.2% to 3.6%.
In terms of profitability, net profit was down by a sharp 32% (YoY) at Rs.278 crore though NII was up 15% at Rs.1321 crore. The total value of assets financed was up 23% at Rs.8376 crore.
Its loan provisions and write-offs were down at Rs.378 crore from Rs.442 crore on a sequential basis but up sharply from Rs.117 crore on YoY.