M&M Financial Services Q4 Review - Near Term Outlook Warrants Caution: ICICI Direct
Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

M&M Financial Services Q4 Review - Near Term Outlook Warrants Caution: ICICI Direct


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.

ICICI Direct Report

Mahindra & Mahindra Financial Services Ltd. reported a mixed set of Q4 FY21 numbers wherein topline growth improved on account of better margins but lower disbursements led to slower assets under management growth.

Net interest income increased 12.2% YoY, 9.2% QoQ to Rs 1511 crore on the back of improvement in net interest margins (calculated) that were up 63 basis points QoQ, 35 bps YoY to 7.4% owing to slightly better asset quality and liquidity management.

Employee cost increased 32% YoY to Rs 282 crore, mainly on account of lower base effect due to reversal of provisions on incentives YoY.

Click on the attachment to read the full report:

ICICI Direct M&M Financial Services Q4FY21 Result Review.pdf


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