Mumbai, January 25, 2018: MAS Financial Services Limited reports Assets under Management (AUM) of `3657.63 Crore and profit after tax of `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 of36.95% 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 31 December 2017.
Performance Highlights:
- Disbursement made during Nine months ended 31 December 201761% to `2906.46 Crore from `2225.26 Crore in Nine months ended 31 December 2016.
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- Disbursement made during Q3 FY 18 20% to `1033.30 Crore from `637.07 Crore in Q3 FY 17.
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- Assets under Management (AUM) as of 31 Dec 2017 35% to `3657.63 Crore from `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 (withoutRBI 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% respectivelyas of 31 Dec 2016.
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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.
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- Total Income for Nine months ended 31December 201708% to `316.92 Crore from `257.49 Crore in Nine months ended 31December 2016.
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- Total Income for Q3 FY 18 33% to `113.03 Crore from `87.39 Crore in Q3 FY 17.
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- Profit After Tax for Nine months ended 31December 201703% to ` 73.47 Crore from `52.47 Crore in Nine months ended 31December 2016.
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- Profit After Tax for Q3 FY 18 95% to ` 25.34 Crore from ` 18.50 Crore in Q3 FY 17.
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- Capital Adequacy Ratio (including Tier II capital) as of 31 December 2017 stood at 10%. The Tier-I capital stood at 30.70%.
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(`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)
(`in CR)
| Asset Under Management (AUM)* | 31 December2017 | 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 `191.89 Crore and profit after tax of ` 1.81 Crore for Nine months ended 31December 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.
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- Gross NPA and Net NPA as of 31 December 2017 stood at 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.
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- Capital Adequacy Ratio (including Tier II capital) as of 31 December 2017 stood at 98%. The Tier-I capital stood at 28.00%.
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Corporate Comm India(CCI Newswire)
