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Motilal Oswal Report
MAS Financial Services Ltd.'s Q2 FY21 profit after tax declined 15% YoY to Rs 342 million (13% miss).
The miss was due to a lower top line on account of the sequential run-down of asset under management, offset by lower-than-expected opex and credit costs.
During the quarter, the company changed the accounting policy (with effect from April 01, 2019) from upfront gain recognition on assignment transactions to amortisation over the life of the asset.
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