Sectoral issues a concern for M&MFin; profitability down by 54 bps in Q3

Net interest incomegrew by 20% YoY to Rs 1,204 crore, while net profit, at Rs 319 crore, took a 20% hit, compared to the previous year

A weak day of trade, clubbed with subpar results published on Friday after market hours, dragged the stock of Mahindra & Mahindra Financial Services (M&M Fin) by over 3 per cent on Monday. Despite assets under management (AUM) and loan disbursements growing by a healthy 31 per cent and 24 per cent, respectively, year-on-year (YoY) in the December quarter (Q3), the Street wasn't too pleased with the headline numbers that lagged estimates. 

Net interest income (NII) grew by 20 per cent YoY to Rs 1,204 crore, while net profit, at Rs 319 crore, took a 20 per cent hit, compared