Calcutta, Oct. 18: City-based asset finance company Magma Fincorp has posted a 33 per cent growth in profit after tax at Rs 28.2 crore for the second quarter ended September on the back of high loan disbursement and improved net interest margin.
Total disbursements grew 45 per cent to Rs 2,262 crore and net interest margin rose 43 basis points to 4.91 per cent during the July-September period. Revenues surged 58 per cent to Rs 398 crore.
“As a result of the superlative performance in disbursements, increase in yields and consistently efficient collections, the profit after tax registered a strong growth,” vice-chairman and managing director Sanjay Chamria said.
Net profit of met coke producer Gujarat NRE has more- than-doubled during the quarter ended September to Rs 16.72 crore from Rs 8.04 crore in the same period last year.
Total income during the quarter rose around 23 per cent to Rs 331.83 crore from Rs 270.04 crore a year ago.
The company’s Australian arm — Gujarat NRE Coking Coal Ltd — has registered the highest quarterly production at 544 thousand tonnes.