M&M Financial Services observed a significant drop of over 9 % in its stock price on October 30 during early trading. The company reported a Q2 profit of Rs 235 crore for the fiscal year 2024, marking a substantial 47.5 % year-on-year decline primarily due to increased impairments related to financial instruments.
However, the revenue from operations for the same quarter experienced a positive trend, with a 24.1 % year-on-year increase, reaching Rs 3,212 crore, driven by asset portfolio growth. The net interest income also saw a notable rise of 9 % year-on-year, reaching Rs 1,674 crore.
The net interest margin for the quarter was reported at 6.5 %, impacted by higher borrowing rates and a shift in the portfolio mix in favor of customers with better credit quality. Despite these challenges, disbursements during Q2 grew by a substantial 13 % year-on-year, reaching Rs 13,315 crore.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.