External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Mahindra & Mahindra Fin Services Ltd. / Equity Bottom-Up

Mahindra & Mahindra Fin Services Ltd. (MMFS IN)

<p>Operating profit rose 36% QoQ to INR10.2b (10% beat) due to higher interest income from the write-back of NPA upgrades. This impact on PPOP was slightly negated by an increase in OPEX (INR4.9b, up 17% QoQ and 24% YoY) due to higher activity levels and collection costs in 2QFY22. Business assets stood flat QoQ, but fell 6% YoY, to INR636b.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Operating profit rose 36% QoQ to INR10.2b (10% beat) due to higher interest income from the write-back of NPA upgrades. This impact on PPOP was slightly negated by an increase in OPEX (INR4.9b, up 17% QoQ and 24% YoY) due to higher activity levels and collection costs in 2QFY22. Business assets stood flat QoQ, but fell 6% YoY, to INR636b.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Asset quality improvement led to provision write-backs