Mahindra & Mahindra Financial Services (MMFSL) posted a weak set of Q1 earnings. Provisions remained elevated and asset quality deteriorated for the company.
In an interview to CNBC-TV18, Ramesh Iyer, VC & MD of Mahindra & Mahindra Financial Services spoke about the results and his outlook for the company.
He expects second half of FY18 to be very good for MMFSL.
Iyer also expect improvement in gross non-performing asset (NPA) going ahead.
He expects improvement in yields with good monsoon.
Gross NPA in standalone book has remained almost flat year on year (YoY) in percentage terms, said Iyer.
According to him, a temporary shift has taken place from Q1 to Q2 in the housing portfolio.
Watch accompanying video for more details.
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