M&M Financials services Results Analysis-Q2FY2027

M&MFIN Financial performance and key operating metrics (Consolidated) : Interest Earned for Q2FY27 is Rs. 5,086 Crs., 13.62% growth YoY, Net Interest Income is Rs. 2,563 Crs., 12.48% growth YoY, Total Income is Rs. 5,962 Crs., 18.07% growth YoY, Pre-Provisioning Operating Profit is Rs. 1,830 Crs., 21.09% growth YoY, PBT is Rs. 1,223 Crs., 61.24% growth YoY, Net profit is Rs. 911 Crs., 60.89% growth YoY. On QoQ basis Interest Earned has achieved 2.7% growth, But Net Interest Income has grown Negatively by 0.65%, Total Income has grown by 4.14%, Pre-Provisioning Operating Profit has grown by 2.39%, PBT grown negatively by 1.52%, PAT is grown also negatively by 1.81%. Disbursements: +22% YoY, as “steady” growth driven by core + diversification, AUM: +15% YoY; lending AUM ~INR 1,56,000 cr. Asset quality: GS2+GS3 at 8.1%, GS3 down 3 bps QoQ and GS2 down 17 bps QoQ (vs prior-year Q1→Q2 increases). Credit cost: 1.6% in Q2, within the guided 1.3%–1.7% “zip code.” Profitability: PAT INR 882 cr (+55%). For H1, ROA 2.3% and PAT +68%. Cost efficiency: Cost-to-income improved to <37% (from “above 40%” earlier). Core wheels growth: +21% Non-wheels growth: +52%, called “a healthy sign” of diversification progress.