MAS FINANCIAL SERVICES LIMITED SHOWS ROBUST GROWTH IN PROFITABILITY

MAS FINANCIAL SERVICES LIMITED SHOWS ROBUST GROWTH IN PROFITABILITY

 

  • PAT for Q2 FY18 up by 31.82% to Rs. 25.09 Crore
  • Interim dividend of 15% @Rs 1.5 per share declared

Ahmedabad : MAS Financial Services Limited reports Assets under Management (AUM) of ` 3474.02 Crore and half yearly profit after tax of ` 48.13 Crore- A Growth of 41.71% over corresponding period of previous year.

The profit after tax for Q2 is Rs. 25.09 crore – A growth of 31.82% over corresponding period of the previous year.

The Board of Directors of MAS Financial Services Limited in their meeting held today took on record the Unaudited Financial Results of the company for the quarter ended 30 September 2017.

Performance Highlights:

Ø  Disbursement made during H1 FY 18     17.94% to ` 1873.16 Crore from ` 1588.18 Crore in H1 FY 17.

Ø  Disbursement made during Q2 FY 18     13.16% to ` 985.10 Crore from ` 870.53 Crore in Q2 FY 17.

Ø  Assets under Management (AUM) as of 30 Sep 2017   25.58% to ` 3474.02 Crore from ` 2766.48 Crore as on 30 Sep 2016 with Gross NPA and Net NPA as of 30 Sep 2017 at 1.20 % and 0.96% respectively. The Gross and Net NPA on 4 months overdue stood at 1.18% and 1.03% as of 30 September 2016.

As required by RBI Guidelines, the Company has moved its NPA recognition policy from 4 months overdue to 3 months overdue in this financial year. The Company continues to provide for loan losses in excess of RBI requirements.

Ø  Total Income for H1 FY 18     19.87% to ` 203.89 Crore from ` 170.10 Crore in H1 FY 17.

Ø  Total Income for Q2 FY 18     22.43% to ` 106.07 Crore from ` 86.64 Crore in Q2 FY 17.

Ø  Profit After Tax for H1 FY 18      41.71% to ` 48.13 Crore from ` 33.96 Crore in H1 FY 17.

Ø  Profit After Tax for Q2 FY 18      31.82% to ` 25.09 Crore from ` 19.03 Crore in Q2 FY 17.

Ø  Capital Adequacy Ratio (including Tier II capital) as of 30 Sep 2017 stood at 23.81%. The Tier-I capital stood at 21.30%.

Ø  Dividend : In consonance to our policy of rewarding the share holders the board has declared an interim dividend of 15% @Rs 1.5 per share.

(` in CR)

Particulars Q2’18 Q2’17 QoQ H1’18 H1’17 HoH FY17
Assets Under Management 3474.02 2766.48 25.58% 3474.02 2766.48 25.58% 3156.14
Total Income 106.07 86.64 22.43% 203.89 170.10 19.87% 341.52
Profit Before Tax 38.45 28.62 34.34% 73.68 51.90 41.97% 103.07
Profit After Tax 25.09 19.03 31.82% 48.13 33.96 41.71% 67.37
GNPA% 1.20% 1.18% 1.69% 1.20% 1.18% 1.69% 1.09%
NNPA% 0.96% 1.03% (6.80%) 0.96% 1.03% (6.80%) 0.95%

(` in CR)

Asset Under Management (AUM)* 30 Sept 2017 30 Sept 2016 HoH FY17
Micro-Enterprise loans 2092.86 1859.71 12.54% 1984.86
SME loans 904.98 523.95 72.72% 763.84
2-Wheeler loans 345.36 246.92 39.87% 285.38
Commercial Vehicle loans 130.82 135.90 (3.74%) 122.06
TOTAL AUM 3474.02 2766.48 25.58% 3156.14

*Represents underlying assets in each of the category. As on 30th Sept. 2017, 55.93% of the total underlying assets is through various  NBFCs.

Ø  IPO Note

Subsequent to September 30, 2017, the Company has allotted 5,092,829 Equity Shares at the meeting of IPO Committee held on October 16, 2017 as part of fresh issue of shares in IPO. The Company has successfully completed the IPO of Rs. 460.04 crore with a stupendous subscription of 128 times and shares were listed @ 43.79% premium on October 18, 2017.

Note on MAS Rural Housing and Mortgage Finance Limited (Subsidiary) :

 The Board of Directors of MAS Rural Housing and Mortgage Finance Limited in their meeting held on 06th November 2017 took on record the Unaudited Financial Results of the company for the quarter ended 30 September 2017.

MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of ` 188.82 Crore and half yearly profit after tax of ` 1.25 Crore- A Growth of 17.65% and 53.77% over corresponding period of previous year respectively.

The profit after tax for Q2 is Rs. 0.54 crore – A growth of 25.91% over corresponding period of the previous year.

Ø  Gross NPA and Net NPA as of 30 Sep 2017 stood at 0.42 % and 0.32% respectively. The Gross and Net NPA stood at 0.35% and 0.30% as of 30 September 2016.

Ø  Capital Adequacy Ratio (including Tier II capital) as of 30 Sep 2017 stood at 32.53%. The Tier-I capital stood at 27.17%.

 

Particulars Q2’18 Q2’17 QoQ H1’18 H1’17 HoH FY17
Assets Under Management 188.82 160.49 17.65% 188.82 160.49 17.65% 176.43
Profit Before Tax 0.80 0.62 28.70% 1.89 1.22 55.55% 2.92
Profit After Tax 0.54 0.43 25.91% 1.25 0.82 53.77%

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