spot_img
27.7 C
Chandigarh
spot_img
spot_img
spot_img

Top 5 This Week

Related Posts

Magma registers 52% increase in operating profits at Rs. 73crs
M

MagmaNewZNew (Hyderabad/Kolkata) : Leading finance company, Magma Fincorp Limited today announced the Q2 FY16 unaudited results that reflected a healthy increase of 96 bps YoY in Net Income Margin (“NIM”) to 6.83%,that drove a significant increase of 52% in profits before tax, from Rs. 47.9 crs during the prior year same quarter, to Rs. 73crs. The PAT has increased by 15% to Rs. 48.7 crs due to higher tax outgo. The company also reported a 7% increase in revenues at Rs 620 crore and the closing loan book was steady at Rs 18,812 crore as on 30th September 2015.

As stated earlier, the company has continued to focus on profitable growth resulting in an increase in share of high ROA products from 47% to 55%. 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 re-tooling of the employees has led to productivity improvement and reduction in opex ratio since the first quarter. The performance of the company would have been even better but for higher provisioning for NPAs given the tough economic scenario and inability of the customers to pay instalments on time.

The company has also been able to improve in its profitability parameters which were primarily driven by PAT increase, despite a flat loan book.

CP Singh
CP Singhhttp://www.cpgrafix.in
I am a Graphic Designer and my company is named as CP Grafix, it is a professional, creative, graphic designing, printing and advertisement Company, it’s established since last 12 years.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles