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

| More

Ahmedabad based Arman Financial reports 138% increase in Q1 FY20 profit after tax at Rs. 12.1 crore

Posted On: 2019-09-13 21:45:25

Arman Financial Services Ltd (Arman), a Gujarat based non-banking financial company (NBFC), with interests in microfinance, two wheelers and micro-enterprise (MSME) loans, announced its financial results for the first quarter ended 30th June 2019.

Consolidated Financial Highlights - Q1 FY2019-20 (April - June 2019) v/s. Q1 FY2018-19 (April - June 2018)

- Asset under management as on 30 June 2019 stood at Rs. 722.5 crore (+57% YoY)
- Total Disbursements as on 30 June 2019 stood at Rs. 191.8 crore (+24% YoY)
- Gross Total Income increased by 69% to Rs. 48.2crore from Rs. 28.5crore
- Net Total Income increased by 75% to Rs. 29.9crore from Rs. 17.1crore
- Cost-to-Income Ratio improved to 35.5% for Q1 FY20 as against 43.5%
- Profit after tax increased by 138% to Rs. 12.1 crore from Rs. 5.1 crore
- Consolidated Debt-Equity Ratio (on a fully diluted basis) as of 30 June 2019 stood at 4.58

Commenting on the Company's performance for Q1 FY2019-20, Mr. Jayendra Patel, Vice Chairman & Managing Director, Arman Financial Services said, "Despite the ongoing liquidity tightening and other macroeconomic headwinds, Arman delivered a strong all-round performance in the first quarter, driven by robust growth in our loan book combined with improvement in NIM,cost-to-income ratio and asset quality. This was the first quarter of Indian Accounting Standard (IndAS) implementation, which resulted in several notional changes in the Financials compared to the previous iGAAP Standards.Growth in our loan assets was characterised by a healthy jump across all 3 of our lending segments. Further, we enhanced our geographic presenceby launching 41 new branches during the quarter as a part of our FY20 expansion strategy.

Positive ALM, superior asset quality and a strong performance track record have helped us keep our finance costs in check and maintain adequate liquidity, despite thetough liquidity conditions faced by the NBFC sector in general. Disciplined lending backed by a rigorous credit appraisal and collection model have enabled us to keep our credit costs under control.Our consolidated Debt-Equity Ratio stood at 4.58:1, which provides us sufficient capital to drive growth in the current year. Moving forward, our endeavour is to continue our growth momentum, while exercising prudence in lending and maintaining adequate liquidity. We will closely monitor rural macroeconomic indicators and make all necessary adjustments to protect asset quality."

Operational Highlights - Q1 FY2019-20 (April - June 2019) v/s. Q1 FY2018-19 (April - June 2018)

- The total operational branches as on 30 June 2019 are 209, of which 178 are in Microfinance segment, 26in MSME and the rest are in 2-Wheeler.

- Robust asset quality - Consolidated Gross NPA of 1.1% and Net NPA of 0.6%

Shares of ARMAN FINANCIAL SERVICES LTD. was last trading in BSE at Rs.415 as compared to the previous close of Rs. 361.55. The total number of shares traded during the day was 203 in over 22 trades.

The stock hit an intraday high of Rs. 415 and intraday low of 407. The net turnover during the day was Rs. 83485.


Source: Equity Bulls

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





Other Headlines:

ICICI Lombard and realme Pay enter into strategic association for providing screen protection cover for realme phones

Ambuja Cements Ltd Q4 CY2019 consolidated PAT lower at Rs. 591.54 crore

ICRA revises long term rating of Indiabulls Housing Finance Limited

GMR Infrastructure Limited announces Strategic Partnership with Groupe ADP for Airports Business

Muthoot Finance Ltd announces pricing of USD 550 million 4.40% notes

UFO Moviez India Ltd board to consider interim dividend on Feb 27, 2020

Dr. Reddy's Laboratories Ltd receives EIR for Duvvada Formulations Plant

Dhanlaxmi Bank Ltd receives RBI nod for appointment of MD & CEO

Sharda Cropchem Ltd Board to consider Second Interim Dividend for FY20

Ambuja Cements Ltd Board recommends Dividend of Rs. 1.50 for CY2019

Plastiblends India Ltd board to consider interim dividend on Feb 25, 2020

Cyient Organizes Blood Donation Drive at its Hyderabad Campus

TCS Named as One of the Fortune Best Big Companies to Work For™ in 2020

India Infoline Finance Ltd raises $400 million

Ambuja Cements Limited appoints Mr. Neeraj Akhoury as new MD and CEO

Garware Technical Fibres Ltd to dispose business undertaking in USA

AstraZeneca Pharma India Ltd launches FDC of Dapagliflozin 10mg + Saxagliptin 5mg film coated tablets (QTERN®)

DCW Limited is the biggest beneficiary of the recently announced anti-dumping duty on imported C-PVC

Jubilant FoodWorks Ltd Board to consider interim dividend on Feb 27, 2020

Jubilant Life Sciences Ltd board to consider interim dividend for FY2020

JK Paper Ltd board to consider interim dividend on Feb 27, 2020

Shri N Baijendra Kumar, CMD, NMDC wins Business Leadership Award

Cyril Amarchand Mangaldas Advises Avenue Supermarts Limited on its INR 4098 Cr. QIP

PVR Ltd board to declare interim dividend on Feb 28, 2020

ICRA assigns ratings to KPIT Technologies Ltd

A.M. Best Affirms A-(Excellent) Rating of The New India Assurance Company Limited

Cipla Ltd board to consider interim dividend for FY2020

SBI Cards IPO to open for subscription on March 2, 2020

Axis Bank to explore long-term strategic partnership with Max Life

Genus Power wins 'Innovative Initiative in the Power Sector', 2020 award for its Smart Metering Pilot project in UAE

JK Cement Ltd board to consider interim dividend on Feb 28, 2020

Shoppers Stop Ltd closes stores at Orion East Mall, Bengaluru and Grant Mall, Chennai

KRBL Ltd board to consider interim dividend for FY2020

Future Lifestyle Fashions Ltd board approves issue of securities to IFC

Trident Ltd board declares interim dividend of Rs. 0.18

Century Plyboards India Ltd forms new subsidiary company

Valiant Organics Ltd board to consider 2nd interim dividend on Feb 28, 2020

Sonata Software Ltd board to consider interim dividend on Feb 26, 2020

JB Chemicals & Pharmaceuticals Ltd board declares interim dividend of Rs. 10

Anuh Pharma Ltd receives CEP for Ambroxol Hydrochloride for EU market

TCS Positioned as a Leader in Application Transformation Services by Everest Group

CARE Ratings Limited updates on ratings of Pitti Engineering Ltd

HGS Recognized on IAOP's 'The 2020 Global Outsourcing 100®' List

Shreyas Shipping & Logistics Ltd announces sale of Vessel 'SSL Kutch'

Redington India Ltd board approves 2nd interim dividend of Rs. 2.80

Cholamandalam Investment and Finance Company Ltd board to consider interim dividend for FY20

Tarini International Ltd updates on SEBI AO Order

Sunteck Realty Ltd has sold 1800 apartments at Sunteck MaxXWorld

Thomas Cook India Ltd board to consider buy back on Feb 26, 2020

Delhi International Airport Ltd offers $150 mn senior secured notes







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

disclaimer copyright © 2005 - 2019