BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Mahindra and Mahindra Financial Services Ltd. earnings were mixed as pre-provision operating profit beat estimate led by net interest income/operating expense though higher provisions was also led by overlay/write-offs.
Assets under management growth fell 5% year-on-year was a miss driven by lower disbursals, and considering the severe second Covid-19 wave, collections would take a precedence over disbursals in FY22E.
Net interest margin was better at 8.0% due to lower funding cost.
Opex benefit continues with lower employee expense and cost to assets for FY21 was 2.2% (estimate 2.3%).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.