MAGMA FINCORP LIMITED  


Magma Q3

Net up 85% to Rs 17.12 crore


Kolkata, 25 January 2008: Magma Shrachi Finance Limited (MSFL), one of the fastest growing financial services companies in India, announced its results for the third quarter and nine-month financial year ended 31 December 2007.


Performance highlights


Q3 FY2008 performance overview (compared with Q3 FY2007)

  • Disbursement increases by 34.2% to Rs. 865.03 crore from Rs. 644.78 crore

  • Revenues improve 111.7% to Rs.1,23.43 crore from to Rs. 58.29 crore

  • Operating profits up 63.1% to Rs. 24.34 crore from Rs. 14.92 crore

  • PBT increases to Rs. 17.12 crore from Rs. 9.26 crore

  • EPS of Rs. 6.56 versus Rs 4.38, a growth of 49.8%


9M FY2008 performance overview (compared with 9M FY2007)

  • Total asset base increased 64% to Rs 6767.2 crore as on 31 December 2007

  • Total disbursements at Rs. 22,63.78 crore, up by 37.1% from Rs. 1650.7 crore

  • Total revenues higher by 98.8% to Rs. 309.65 crore from Rs. 1,55.76 crore

  • Operating profits expands by 56.0% to Rs. 72.61 crore from Rs. 46.56 crore

  • PBT up 74.7% to Rs. 51.56 crore compared to Rs. 29.51 crore

  • EPS at Rs. 19.79 versus Rs. 15.76

Commenting on the performance for Q3 & 9M FY2008, Mr. Sanjay Chamria, Vice Chairman & MD of Magma Shrachi Finance Limited, said: "We are pleased to report a strong operating quarter complemented by healthy growth in our disbursements. In order to expand business volumes and add new growth avenues, the Company is making significant progress in the southern and western markets, which will help drive the next round of growth. We already have in place the right mix of experienced manpower and robust risk management system enabling us to skillfully rollout our products while we minimize our risk profile.

With our increased scale of operations combined with consistent focus on the quality of portfolio, we should be able to deliver noticeably better financial performance as we move into the next year."


About Magma Shrachi Finance Limited

Magma Shrachi Finance Limited (MSFL) is one of the fastest growing financial services company in India. It has a well-diversified product portfolio comprising Commercial Vehicle Finance, Car & Utility Vehicle Finance, Construction Equipment Finance, Used Commercial Vehicle Finance, Strategic Construction Equipment Finance and Fee Based Business with assets under management of over Rs 6480 crore as on 31 December 2007. The Company follows an excellent credit appraisal policy through well-laid processes, which has helped it build a quality asset base over the years. MSFL currently operates through 160 branches in 20 states and employs about 4000 people. The Company has a focus on rural and semi urban India which generates major part of its business. It has a pan India presence with a strong network in North, East, Central and South regions with an increasing presence in the West.



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Kaushik Sinha, GM- CorpComm