/ Magma Fincorp Q2 FY17 PAT At Rs 50.6 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 4 November 2016


Leading BFSI company, Magma Fincorp Ltd announced the Q2 FY17 unaudited results that reflected a healthy increase of 52 bps YoY in Net Income Margin (“NIM”) to 7.36%, which drove an increase in profits before tax (PBT) to Rs 76.6 crore and profit after tax (PAT) to Rs 50.6 crore respectively. Company’s Assets under Management has been reported at Rs 17,600 crore as on September 30.

The company continued to focus on profitable growth through increased business in agriculture (tractors), used assets, mortgage and burgeoning SME segments. These four segments now contribute 67% of total disbursals and 60% of total loan book. The improvement in NIM is in keeping with the company’s decision to consciously alter its product and customer mix to improve the margins significantly over a period of time. Similarly, the revised processes and investment in technology and deeper penetration into rural markets has led to productivity improvement and reduction in opex.

With normal monsoons, increase in Minimum Support Prices of the Agricultural Commodities and onset of the festival season, the company expects to grow the disbursals in the second half of the year and start building the AUM again and set the platform for good growth next fiscal year.
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