Quarterly Result
- Unaudited Consolidated Financial
Results for the Quarter Ended 30th September 2010
| Unaudited Consolidated Financial
Results for the Quarter Ended 30th September 2010 |
| |
|
|
|
|
|
(Rs. in lacs) |
| P
a r t i c u l a r s |
Quarter
ended |
Year
To Date |
Year
ended 31st March 2010 |
30th
September 2010 |
30th
September 2009 |
30th
September 2010 |
30th
September 2009 |
| |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Income From Operations |
18,497.20 |
16,033.32 |
34,851.25 |
28,901.67 |
65,658.80 |
| 2. |
Other Operating Income |
1,356.24 |
1,670.49 |
2,906.85 |
3,284.37 |
6,277.77 |
| |
Total Operating Income (A) |
19,853.44 |
17,703.81 |
37,758.10 |
32,186.04 |
71,936.57 |
| 3. |
Staff Cost |
3,122.97 |
2,860.19 |
6,313.85 |
5,235.05 |
10,533.55 |
| 4. |
Depreciation |
677.51 |
838.34 |
1,405.87 |
1,686.96 |
3,278.58 |
| 5. |
Brokerage & Commission |
1,353.75 |
1,130.34 |
2,945.05 |
2,199.46 |
5,021.72 |
| 6. |
Bad Debts Written-off |
478.41 |
633.43 |
1,466.68 |
1,600.62 |
4,083.48 |
| 7. |
Other Operative & Administrative Expenses |
1,625.44 |
1,414.88 |
2,964.02 |
2,409.51 |
5,838.38 |
| |
Total Operating Expenditure (B) |
7,258.08 |
6,877.18 |
15,095.47 |
13,131.60 |
28,755.71 |
| 8. |
Profit From Operations Before Other Income &
Interest (A-B) |
12,595.36 |
10,826.63 |
22,662.63 |
19,054.44 |
43,180.86 |
| 9. |
Other Income |
50.66 |
89.51 |
86.44 |
202.64 |
370.01 |
| 10. |
Profit Before Interest & Tax |
12,646.02 |
10,916.14 |
22,749.07 |
19,257.08 |
43,550.87 |
| 11. |
Interest & Finance Charges |
8,697.55 |
8,515.15 |
16,029.42 |
15,151.22 |
32,504.56 |
| 12. |
Profit Before Tax |
3,948.47 |
2,400.99 |
6,719.65 |
4,105.86 |
11,046.31 |
| 13. |
Tax Expense (Includes Deferred Tax) |
1,312.92 |
825.70 |
2,266.79 |
1,404.89 |
3,914.20 |
| 14. |
Profit After Tax |
2,635.55 |
1,575.29 |
4,452.86 |
2,700.97 |
7,132.11 |
| 15. |
Share of Minority Interest Profit / (Loss) |
50.90 |
29.78 |
96.97 |
58.28 |
126.40 |
| 16. |
Profit After Tax & Minority Interest |
2,584.65 |
1,545.51 |
4,355.89 |
2,642.69 |
7,005.71 |
| 17. |
Paid-Up Equity Capital (Face Value Rs.2/-Each) |
2,586.96 |
2,177.71 |
2,586.96 |
2,177.71 |
2,177.71 |
| 18. |
Reserves & Surplus |
- |
- |
- |
- |
33,048.95 |
| 19. |
Earning Per Share |
|
|
|
|
|
| |
- Basic (In Rs.) |
1.77 |
1.23 |
3.10 |
2.06 |
5.79 |
| |
- Diluted (In Rs.) |
1.73 |
1.23 |
3.04 |
2.05 |
5.78 |
| 20. |
Public Shareholding |
|
|
|
|
|
| |
- Number Of Shares |
75,320,597 |
54,957,200 |
75,320,597 |
54,957,200 |
54,806,585 |
| |
- Percentage Of Shareholding |
58.23% |
50.47% |
58.23% |
50.47% |
50.33% |
| 21. |
Promotors and promotor group Shareholding |
|
|
|
|
|
| |
a) Pledged/Encumbered |
|
|
|
|
|
| |
- Number of Shares |
- |
- |
- |
- |
- |
| |
- % of Shares (to total shareholding
of promotor and promotor group) |
- |
- |
- |
- |
- |
| |
- % of Shares (to total share capital
of the Company) |
- |
- |
- |
- |
- |
| |
b) Non-encumbered |
|
|
|
|
|
| |
-
Number of Shares |
54,027,503 |
53,928,500 |
54,027,503 |
53,928,500 |
54,079,115 |
| |
-
% of Shares (to total shareholding of promotor and promotor
group) |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| |
-
% of Shares (to total share capital of the Company) |
41.77% |
49.53% |
41.77% |
49.53% |
49.67% |
|
| Interim disclosure of Balance Sheet
items |
(Rs. in lacs) |
| P
a r t i c u l a r s |
Six
Months ended |
| 30th
September 2010 |
30th
September 2009 |
| (Unaudited) |
(Unaudited) |
| Shareholders' Funds |
|
|
| (a) Share Capital |
17,697.16 |
13,787.91 |
(b) Optionally Convertible
Equity Warrants
|
1,250.00 |
- |
| (c) Reserves and Surplus |
48,840.12 |
30,231.15 |
| Total Shareholders' Funds |
67,787.28 |
44,019.06 |
| Minority Interest |
879.92 |
475.92 |
| Mezzanine Capital |
- |
92.96 |
| Subordinated Non-Convertible Perpetual Debentures
(Tier I Capital) |
3,000.00 |
- |
| Subordinated Redeemable Non-Convertible Debentures
(Tier II Capital) |
32,920.00 |
17,000.00 |
| Loan Funds |
362,950.47 |
286,602.76 |
| Deferred Tax Liability |
4,679.18 |
4,802.54 |
Total |
472,216.85 |
352,993.24 |
| |
|
|
| Fixed Assets |
19,651.23 |
22,266.83 |
| Investments |
1,877.71 |
2,269.56 |
| Current Assets, Loans and Advances |
|
|
| (a) Assets on Finance |
364,433.65 |
273,403.98 |
| (b) Stock-in-trade |
17.17 |
- |
| (c) Sundry Debtors |
984.46 |
1,005.20 |
| (d) Cash & Bank
Balances |
114,967.38 |
83,038.16 |
| (e) Other Current Assets |
28.99 |
114.25 |
| (f) Loans and Advances |
17,107.53 |
19,076.43 |
| Less: Current Liabilities and Provisions |
|
|
| (a) Current Liabilities |
40,632.47 |
45,277.71 |
| (b) Provisions |
6,218.80 |
2,903.46 |
| Total Net Current Assets, Loans and
Advances |
450,687.91 |
328,456.85 |
Total |
472,216.85 |
352,993.24 |
Notes : |
| 1. |
The financial results have been reviewed by the
Audit Committee and recommended for adoption to the Board
of Directors. The Board of Directors of the Company have considered
and approved the same at its Meeting held on 12th October
2010. |
| 2. |
The Statutory Auditors have carried out the Limited
Review of the unaudited financial results as required under
Clause 41 of the listing agreement. |
| 3. |
In accordance with Clause 41 of the Listing Agreement,
the Company has opted to publish unaudited consolidated financial
results. The unaudited standalone results of the Company will,
however, be available on the Company's website www.magma.co.in
or on the websites of BSE (www.bseindia.com) or NSE (www.nseindia.com). |
| 4. |
The consolidated financial statements have been
prepared in accordance with the Accounting Standard 21 (Consolidated
Financial Statements) and comprise of the financial results
of Magma Fincorp Limited and its subsidiary, Magma ITL Finance
Limited. |
| 5. |
The Company is engaged primarily in the business
of financing in India and as such no separate information
as per Accounting Standard 17 (Segment Reporting) is required
to be furnished. |
| 6. |
Pursuant to the approval of the shareholders at
the Annual General Meeting held on 15th July 2010, the equity
shares of face value of Rs. 10/- each were sub-divided into
5 equity shares of face value of Rs. 2/- each on record date
of 16th August 2010. Accordingly, the EPS has been recalculated
based on face value of Rs. 2/- each for the current quarter
and for the earlier periods as required by Accounting Standards
20 (Earnings Per Share). |
| 7. |
There was no investor complaint pending as on
30th September 2010. During the quarter, 3 (three) complaints
were received and duly resolved. |
| 8. |
Unaudited Financial Results of Magma Fincorp Limited
(Standalone Information): |
| P
a r t i c u l a r s |
Quarter
ended |
Year
To Date |
Year
ended 31st March 2010 |
30th
September 2010 |
30th
September 2009 |
30th
September 2010 |
30th
September 2009 |
| |
|
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|
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|
|
| 1. |
Total Operating Income |
19,078.30 |
17,230.02 |
36,285.58 |
31,320.08 |
69,930.88 |
| 2. |
Profit Before Tax |
3,658.38 |
2,225.18 |
6,161.18 |
3,761.53 |
10,304.12 |
| 3. |
Profit After Tax |
2,439.78 |
1,458.91 |
4,079.93 |
2,473.21 |
6,646.03 |
| |
| By order of the Board
For Magma Fincorp Limited |
Place : Kolkata - 700 016
Dated : 12th October 2010 |
| Sanjay Chamria
Vice Chairman & Managing Director |
Registered Office : Magma
House, 24 Park Street, Kolkata - 700 016 |
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