MAS Financial Services Q4 Review - Collection Efficiency At 95%; Cautious On Growth: Motilal Oswal
A person holds Indian rupee banknotes. (Photographer: Dhiraj Singh/Bloomberg)

MAS Financial Services Q4 Review - Collection Efficiency At 95%; Cautious On Growth: Motilal Oswal

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Motilal Oswal Report

MAS Financial Services Ltd. reported 6% YoY higher profit after tax to Rs 365 million (our estimate Rs 374 million) in Q4 FY21.

The 14% miss on operating profit to Rs 575 million was due to higher-than-estimated financing costs, coupled with higher operating expenses (our estimate: 18%).

Lower-than-estimated provisioning of Rs 75 million (55% below our estimate) led to in-line profit after tax.

It posted 20%/16%/20% decline in total income / pre-provision operating profit / profit after tax in FY21.

Overall earnings and balance sheet growth are muted due to the cautious approach adopted by the management.

Click on the attachment to read the full report:

Motilal Oswal MAS Financial Q4FY21 Result Update.pdf

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