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Equitas Holdings Ltd has posted strong consolidated numbers both for the January-March 2016 quarter and full year period.
On a consolidated basis, its profit after tax (PAT) grew by 28 per cent to ₹46.8 crore for the quarter ended March 31, 2016 as against ₹36.5 crore in a year-ago period.
Total income increased by 49 per cent to ₹320.2 crore from ₹215.3 crore in the corresponding quarter last year.
For 2015-16, consolidated net profit grew by 57 per cent at ₹167.1 crore when compared with ₹106.6 crore in 2014-15. Total income saw a jump of 47 per cent at ₹1,114.9 crore for as against ₹755.9 crore.
“The growth has been led by healthy disbursements in key focus asset products such as microfinance, used commercial vehicle finance and micro enterprise loans,” said a company statement. For 2015-16, on consolidated basis, its gross NPA stood at 1.34 per cent (1.08 per cent in the previous year) and net NPA was at 0.94 per cent (0.80 per cent).
Gross NPA and net NPA at consolidated levels have shown increase due to migration of NPA recognition to five months from 6 months with effect from Q1FY16 for its subsidiary Equitas Finance Ltd, in line with RBI requirements, but it has since stabilised, said the company.
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