scorecardresearchM&M Financial Services stock jumped 10% even after Q2 net profit halves

M&M Financial Services stock jumped 10% even after Q2 net profit halves

Updated: 03 Nov 2022, 12:47 PM IST
TL;DR.
The company reported a 55.39% drop in its consolidated net profit to 492 crore in Q2FY23 as against 1,103.8 crore in the same quarter of the previous fiscal. YTD, the stock has risen from around Rs. 148.95 to the current trading price of Rs. 213.05, representing a 42.49% increase.
In September, the stock plunged after the Reserve Bank of India (RBI) ordered the company to stop using third-party loan recovery services.

In September, the stock plunged after the Reserve Bank of India (RBI) ordered the company to stop using third-party loan recovery services.