Mahindra Finance (MMFS IN) Q4FY17 Results First Cut: Asset quality pressures weigh down on earnings - Net Op. Inc. +11% yoy (+49% qoq) at Rs11.1bn – 4% above expectations - Other Inc. -19% yoy (+32% qoq) at Rs173mn - Opex +19% yoy (+11% qoq) at Rs4.04bn - Op. Profit +7% yoy (+84% qoq) at Rs7.25bn – 2% above expectations - Provisions +232%