M&M Financial reported its 2013 Q3 results yesterday. As a long-time investor in the stock, it raises a couple of questions.
Is it a floozy?
Did news leak out of the bad numbers ahead of the announcement?
The stock was at Rs. 240.00, down -5.57% at the time this post was written.
Is it a doozy?
Net NPA went up to 2.2% compared to 1.6% during the same period last year. Was it a kitchen-sink quarter? Not really, as their presentation shows, NPA has been steadily rising, costs have been rising and return on assets has been coming down, consistently since 2011.
Right now, M&M Financial is looking like both a floozy and a doozy.