Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Arman Financial Services Ltd reports consolidated Q3 PAT of Rs. 5.83 crores

Posted On: 2019-02-10 10:46:22

ARMAN FINANCIAL SERVICES LTD. has reported financial results for the period ended December 31, 2018.

The company has reported net sales of Rs.38.04 crores during the period ended December 31, 2018 as compared to Rs.32.94 crores during the period ended September 30, 2018.

The company has posted net profit of Rs.5.83 crores for the period ended December 31, 2018 as against Rs.5.40 crores for the period ended September 30, 2018.

The company has reported EPS of Rs.7.63 for the period ended December 31, 2018 as compared to Rs.7.16 for the period ended September 30, 2018.

FinancialsQ3 FY18-19Q2 FY18-19% Change
Total Income₹ 38.04 crs₹ 32.94 crsUp Tick 15.48%
Net Profit₹ 5.83 crs₹ 5.40 crsUp Tick 7.96%
EPS₹ 7.63₹ 7.16Up Tick 6.56%


The company has reported net sales of Rs.38.04 crores during the period ended December 31, 2018 as compared to Rs.22.53 crores during the period ended December 31, 2017.

The company has posted net profit of Rs.5.83 crores for the period ended December 31, 2018 as against Rs.3.13 crores for the period ended December 31, 2017.

The company has reported EPS of Rs.7.63 for the period ended December 31, 2018 as compared to Rs.4.53 for the period ended December 31, 2017.

FinancialsQ3 FY18-19Q3 FY17-18% Change
Total Income₹ 38.04 crs₹ 22.53 crsUp Tick 68.84%
Net Profit₹ 5.83 crs₹ 3.13 crsUp Tick 86.26%
EPS₹ 7.63₹ 4.53Up Tick 68.43%


The company has reported net sales of Rs.100.14 crores during the 9 months period ended December 31, 2018 as compared to Rs.54.22 crores during the 9 months period ended December 31, 2017.

The company has posted net profit of Rs.15.84 crores for the 9 months period ended December 31, 2018 as against Rs.4.87 crores for the 9 months period ended December 31, 2017.

The company has reported EPS of Rs.20.92 for the 9 months period ended December 31, 2018 as compared to Rs.7.03 for the 9 months period ended December 31, 2017.
Financials9 months FY18-199 months FY17-18% Change
Total Income₹ 100.14 crs₹ 54.22 crsUp Tick 84.69%
Net Profit₹ 15.84 crs₹ 4.87 crsUp Tick 225.26%
EPS₹ 20.92₹7.03Up Tick 197.58%

Commenting on the Company's performance for Q3 FY2018-19, Mr. Jayendra Patel, Vice Chairman & Managing Director, Arman Financial Services said, "The total AUM of the company has grown from Rs 362.46 Cr on 31 Dec 2017 to Rs.585.96 Cr as on 31 Dec 2018, a growth of 61.66%. The growth on a QoQ basis is 12.90 % from Rs. 519.07 Cr as on 30 September 2018 to Rs. 585.96 Cr on 31 December 2018. We are pleased to announce that CARE Ratings have upgraded the ratings for both Arman & Namra from BBB to BBB+. In addition, the MFI grading for Namra has been upgraded from MFI-2 to MFI-2+, which is one step below the highest possible grading.

The performance of the company has been stable inspite of liquidity challenge being faced by NBFCs in the previous quarter. While there has been a significant improvement with liquidity in January, including some improvement in the short-term debt instrument market, there continues to be significant negative publicity surrounding NBFCs, and an overall increase in interest rates.

It continues to remain challenging for the sector to borrow from banks and other financial institutions. However, we have been quite successful in leveraging our existing debt relationships, with disbursements totaling Rs.90 Cr in the past quarter, including private and PSU banks. Borrowing costs have increased due to rate resets and new borrowings coming in at higher costs. Very recently, we have achieved a significant milestone by closing a refinancing deal with NABARD, and also finished a multioriginator securitization transaction with Kotak-Mahindra bank. At the end of Q2, we closed a 2nd foreign NCD transaction with Symbiotics. In short, we are constantly diversifying our debt portfolio, and we hope that will help us avoiding liquidity shortages in the future, and allow us to reduce our overall cost of borrowings.

Operationally we have done well and have been able to grow and maintain our profitability despite significant headwinds. However, due to the unpredictability of future fund availability, the company took a conservative view during Q3 and reduced planned branch openings in the Microfinance and MSME segments. This resulted in a very slight variation in our year-end projections for AUM growth, although our profitability projections remain better than anticipated. The branches openings that were skipped in Q3 are being opened in Q4.

We are in the process of implementing a new ERP software for Microfinance. This will substantially increase our collection efficiency and generate better MIS for the management team. With an integrated mobile interface, field staff will now manage going completely paperless (except where a paper documents are statutorily required) for both loan application and loan servicing. We have already implemented the pilot in 25 branches and plan to cover rest of the branches by the fourth quarter end."


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Lemon Tree Hotels Ltd signs license agreement for 80 room hotel at Durgapur

Solix expands senior leadership team to accelerate Cloud Growth

Aavas Financiers raises INR 345 crore from IFC through NCDs

Satra Properties India Ltd has sold 49% in subsidiary

Bayer closes Monsanto integration in India

NACL Industries Ltd gets favorable verdict on insurance claim

ICRA credit Rating for Bank facilities of Banswara Syntex Ltd

American Express buys 9 acres land from DLF Group for its Office campus

SML ISUZU Ltd launches 'Executive Lx 5100 XT Bus'

CFO Tech Outlook recognizes Emagia as 'The Top 10 Fintech Solutions Providers 2019'

NBCC India Ltd signs MoU with Utkal University, Bhubaneswar

Central Bank of India changes Average Balance Charges in Savings Accounts on Monthly basis

General Motors and Tata Consultancy Services Launch New Partnership in Global Vehicle Engineering

ICRA downgrades outlook of Sandhar Technologies Ltd

USFDA issues DMF information request to SMS Pharmaceuticals Ltd

Wipro, lndustrie 4.0 Maturity Center Ink Strategic Partnership

Fintech Start-Up Tarrakki launch investment product in association with Reliance Nippon Life AMC

Asian Paints partners with Mahindra Logistics to strengthen its supply chain in Eastern India

Kaveri Seed Company Ltd board to consider buyback on Sep 24, 2019

Calcom Vision Ltd ties up with Bajaj Electricals Ltd

Skilling to Employment: Maruti Suzuki's Japan-India Institute for Manufacturing, Mehsana, Gujarat records 100% placement for the second consecutive year

V-Mart Retail Ltd opens two new stores in Bihar and Assam

Customer Experience (CX) Leader HGS Unveils HGS Digital to Provide Intelligent Innovation Solutions for Enterprise Clients

Kansai Nerolac Paints Ltd. creates a Floating Pookalam with recyclable Nerolac paint cans on the occasion of Onam

Bayer CropScience Ltd fixes Sep 26, 2019 as record date for merger

IND A1+ rating assigned to CPs of TV18 Broadcast Ltd

Aries Agro Limited completes stake sale in Amarak Chemicals FZC

IND A1+ rating assigned to CPs of Network 18 Media & Investments Ltd

IndiGo connects world's fastest growing economies - India and China

Mindtree to Provide SAP Support Services to Atotech

GE T&D India Ltd accepts resignation of Mr. Gaurav Manoher Negi as CFO

AAVAS Financiers Ltd to issue NCDs to IFC

ICRA assigns ratings to Thangamayil Jewellery Ltd for FY2019-20

Thomas Cook India launches 'Undiscovered Antarctica' in association with National Geographic Expeditions

Ice Make eyes new segments and international markets

Tata Power Renewable Energy Limited commissions 150 MW Solar Capacity in Rajasthan

Generic Engineering bags Large Orders from Maharashtra State Police Housing & Welfare Corporation Limited

Dr. Reddy's launches over-the-counter, store-brand equivalent of Prevacid® 24HR Capsules in the U.S. Market

J. Kumar Infraprojects Ltd bags MMRDA contract worth Rs. 342.13 crore

TVS Motor Company launches new TVS NEO NX in Mali, Africa

L&T Construction secures contracts for various businesses

Tata Elxsi launches ETSI NFV / OSM based Management and Orchestration (MANO) solution for operators

NELCO Launches Maritime Communications Services in India

MILKFOOD Ltd withdraws application for strike off of subsidiary by ROC

Granules India Ltd enters into agreement for sale of stake in JV

Tata Elxsi helps NOS build its first ever RDK-B DOCSIS 3.1 Router

Focus Softnet Accelerates Global Business Expansion with Tata Communications' IZO™ Cloud Platform

Rain Industries Ltd announces measures to meet shortfall of raw material

Supreme Court dismisses petitions filed by Rain Industries Ltd

Infosys Inaugurates Arizona Technology and Innovation Center







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019