Magma Fincorp disbursals up by 36%
The first quarter results of Magma Fincorp reflected strong growth in business disbursals of the company along with growth in revenues, Assets under Management (AUM) over the corresponding quarter last year. The disbursements grew at a robust 36 per cent to Rs 1,422.0 crore while revenue increased 23 per cent to Rs 221.1 crore. The company improved its NIM from 4.4 per cent in Q4 to 4.6 per cent in Q1 and also ensured to increase yields in all product segments which was higher by 104 bps on a blended basis during the quarter in comparison to Q4 of the last FY. The company recorded profit before tax (PBT) of Rs 25.38 crore and profit after tax (PAT) of Rs 17.13 crore respectively.