A Robust Financial Performance MAS Financial Services Standalone Net Profit Rises 36.97% in the December 2017 Quarter
MUMBAI, January 25, 2018 /PRNewswire/ --
MAS Financial Services Limited reports Assets under Management (AUM) of Rs. 3657.63 Crore and profit after tax of Rs. 73.47 Crore for nine months ended 31 December 2017 - A Growth of 33.35% and 40.03% over corresponding period of previous year respectively.
The profit after tax for Q3 is Rs. 25.34 crore - A growth of 36.95% over corresponding period of the previous year.
Performance Highlights:
- Disbursement made during nine months ended 31 December 2017 30.61% to Rs. 2906.46 Crore from Rs. 2225.26 Crore in nine months ended 31 December 2016.
- Disbursement made during Q3 FY 18 62.20% to Rs. 1033.30 Crore from Rs. 637.07 Crore in Q3 FY 17.
- Assets under Management (AUM) as of 31 Dec 2017 33.35% to Rs. 3657.63 Crore from Rs. 2742.84 Crore as on 31 Dec 2016 with Gross NPA and Net NPA as of 31 Dec 2017 at 1.17% and 0.94% respectively. The Gross and Net NPA on 4 months overdue (without RBI dispensation of granting additional 60 days with respect to recognition of asset as NPA, due to demonetization) stood at 1.43% and 1.29% as of 31 Dec 2016. With RBI dispensation the Gross NPA and Net NPA stood at 1.03% and 0.88% respectively as of 31 Dec 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.
- Total Income for nine months ended 31 December 2017 23.08% to Rs. 316.92 Crore from Rs. 257.49 Crore in nine months ended 31 December 2016.
- Total Income for Q3 FY 18 29.33% to Rs. 113.03 Crore from Rs. 87.39 Crore in Q3 FY 17.
- Profit After Tax for nine months ended 31 December 2017 40.03% to Rs. 73.47 Crore from Rs. 52.47 Crore in nine months ended 31 December 2016.
- Profit After Tax for Q3 FY 18 36.95% to Rs. 25.34 Crore from Rs. 18.50 Crore in Q3 FY 17.
- Capital Adequacy Ratio (including Tier II capital) as of 31 December 2017 stood at 33.10%. The Tier-I capital stood at 30.70%.
(Rs. in CR)
Particulars Q3'18 Q3'17 QoQ 9M FY18 9M FY17 9Mo9M FY17
Assets Under Management 3657.63 2742.84 33.35% 3657.63 2742.84 33.35% 3156.14
Total Income 113.03 87.39 29.33% 316.92 257.49 23.08% 341.52
Profit Before Tax 38.75 28.22 37.32% 112.43 80.12 40.33% 103.07
Profit After Tax 25.34 18.50 36.95% 73.47 52.47 40.03% 67.37
GNPA% 1.17% 1.43%* (18.18%) 1.17% 1.43%* (18.18%) 1.09%
NNPA% 0.94% 1.29%* (27.13%) 0.94% 1.29%* (27.13%) 0.95%
*without RBI dispensation. (With RBI dispensation the Gross NPA and Net NPA stood at 1.03% and 0.88% respectively as of 31 Dec 2016)
(Rs. in CR)
Asset Under Management (AUM)* 31 December 2017 31 December 2016 9Mo9M FY17
Micro-Enterprise loans 2266.79 1811.55 25.13% 1984.86
SME loans 896.40 552.73 62.18% 763.84
2-Wheeler loans 355.42 254.11 39.87% 285.38
Commercial Vehicle loans 139.03 124.45 11.72% 122.06
TOTAL AUM 3657.63 2742.84 33.35% 3156.14
*Represents underlying assets in each of the category. As on 31 December 2017, 56.26% of the total underlying assets is through various NBFCs.
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 23rd January, 2018 took on record the Unaudited Financial Results of the company for the quarter ended 31 December 2017.
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of Rs. 191.89 Crore and profit after tax of Rs. 1.81 Crore for Nine months ended 31 December 2017- A Growth of 15.28% and 38.26% over corresponding period of previous year respectively.
The profit after tax for Q3 is Rs. 0.55 crore - A growth of 12.44% over corresponding period of the previous year.
- Gross NPA and Net NPA as of 31 December 2017 stood at 0.37% and 0.29% respectively. The Gross and Net NPA stood at 0.54% and 0.46% (without NHB dispensation of granting additional 60 days with respect to recognition of asset as NPA, due to demonetization) as of 31 December 2016. With NHB dispensation the Gross NPA and Net NPA stood at 0.45% and 0.37% respectively as of 31 Dec 2016.
- Capital Adequacy Ratio (including Tier II capital) as of 31 December 2017 stood at 32.98%. The Tier-I capital stood at 28.00%.
(Rs. in CR)
Particulars Q3'18 Q3'17 QoQ 9M FY18 9M FY17 9Mo9M FY17
Assets Under Management 191.89 166.46 15.28% 191.89 166.46 15.28% 176.43
Profit Before Tax 0.81 0.74 8.82% 2.70 1.96 37.88% 2.92
Profit After Tax 0.55 0.49 12.44% 1.81 1.31 38.26% 1.92
GNPA% 0.37% 0.54%* (31.48%) 0.37% 0.54%* (31.48%) 0.41%
NNPA% 0.29% 0.46%* (36.96%) 0.29% 0.46%* (36.96%) 0.34%
*without NHB dispensation. (With NHB dispensation the Gross NPA and Net NPA stood at 0.45% and 0.37% respectively as of 31 Dec 2016)
About MAS Financial Services Limited:
MAS Financial Services Limited (“MAS”) is a Gujarat-headquartered NBFC with more than two decades of business operations and as of June 30, 2017. MAS operate across six States and the NCT of Delhi. Their business and financing products are primarily focused on middle and low income customer segments, and include five principal categories: (i) micro-enterprise loans; (ii) SME loans; (iii) two-wheeler loans; (iv) Commercial Vehicle loans (which include new and used commercial vehicle loans, used car loans and tractor loans); and (v) housing loans. The Promoters of MAS have significant operational experience in the financial services sector in India.
Media Contact:
Rahul Tekwani
[email protected]
+91-9009830767
Concept Public Relations India Limited
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