M&M Financial: A floozy or a doozy?

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?

Mahindra Financial Services Limited

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.

Mahindra Financial results

Right now, M&M Financial is looking like both a floozy and a doozy.