| Unaudited Consolidated
Financial Results for the Quarter Ended 30th June 2009 |
| |
|
|
|
(Rs. in lacs) |
| P
a r t i c u l a r s |
Quarter
ended |
Year
ended 31st March 2009 |
| 30th
June 2009 |
30th
June 2008 |
| |
|
Consolidated |
Standalone |
Consolidated |
| |
|
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Income From Operations |
12,868.35 |
12,552.62 |
57,469.34 |
| 2. |
Other Operating Income |
1,613.88 |
1,255.34 |
5,436.80 |
| |
Total Operating Income (A) |
14,482.23 |
13,807.96 |
62,906.14 |
| 3. |
Staff Cost |
2,374.86 |
2,067.03 |
9,992.15 |
| 4. |
Depreciation |
848.62 |
768.05 |
3,423.90 |
| 5. |
Brokerage & Commission |
1,069.12 |
1,578.26 |
4,657.35 |
| 6. |
Bad Debts Written-off |
967.19 |
746.53 |
4,151.19 |
| 7. |
Other Operative & Administrative
Expenses |
994.63 |
909.52 |
5,982.41 |
| |
Total Operating Expenditure (B) |
6,254.42 |
6,069.39 |
28,207.00 |
| 8. |
Profit From Operations Before Other
Income & Interest (A-B) |
8,227.81 |
7,738.57 |
34,699.14 |
| 9. |
Other Income |
113.13 |
43.04 |
207.50 |
| 10. |
Profit Before Interest & Tax |
8,340.94 |
7,781.61 |
34,906.64 |
| 11. |
Interest & Finance Charges |
6,636.07 |
5,624.18 |
28,802.59 |
| 12. |
Profit Before Tax |
1,704.87 |
2,157.43 |
6,104.05 |
| 13. |
Tax Expense (Includes Deferred Tax) |
579.19 |
737.20 |
2,124.21 |
| 14. |
Profit After Tax |
1,125.68 |
1,420.23 |
3,979.84 |
| 15. |
Share of Minority Interest Profit
/ (Loss) |
28.50 |
- |
17.79 |
| 16. |
Profit After Tax & Minority Interest |
1,097.18 |
1,420.23 |
3,962.05 |
| 17. |
Paid-Up Equity Capital (Face Value
Rs.10/-Each) |
2,177.71 |
2,177.71 |
2,177.71 |
| 18. |
Reserves & Surplus |
- |
- |
27,474.52 |
| 19. |
Earning Per Share |
|
|
|
| |
- Basic (In Rs.) |
4.12 |
5.35 |
15.04 |
| |
- Diluted (In Rs.) |
4.11 |
5.34 |
15.01 |
| 20. |
Public Shareholding |
|
|
|
| |
- Number Of Shares |
11,056,440 |
11,099,318 |
11,099,318 |
| |
- Percentage Of Shareholding |
50.77% |
50.97% |
50.97% |
| 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 |
10,720,700 |
10,677,822 |
10,677,822 |
| |
- % of Shares (to
total shareholding of promotor and promotor group) |
100.00% |
100.00% |
100.00% |
| |
-
% of Shares (to total share capital of the Company) |
49.23% |
49.03% |
49.03% |
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
Notes : |
| 1. |
The said working results have been
reviewed by the Audit Committee and taken on record and approved
by the Board of Directors of the Company at its Meeting held
on 31st July 2009. |
| 2. |
The Statutory Auditors
have carried out the Limited Review of the above 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 for the first time,
as such the corresponding figures for the previous quarter
are not comparable as the same are standalone figures only.
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
results comprise of the financial results of the subsidiaries
Magma ITL Finance Limited and Magma Consumer Finance Private
Limited |
| 5. |
The consolidated financial
statements have been prepared in accordance with the Accounting
Standard 21 (Consolidated Financial Statements). |
| 6. |
The Company has challenged
constitutional validity of Fringe Benefit Tax and filed a
Writ Petition before the Hon'ble Court of Calcutta and has
been granted stay order on the same. The case has since been
transferred to Hon'ble Supreme Court and is yet to be finally
disposed off by the Hon'ble Supreme Court. In view of this,
the Company has not provided for any liability against Fringe
Benefit Tax. In terms of Finance Bill, 2009, Fringe Benefit
Tax is proposed to be withdrawn effective 1st April 2009. |
| 7. |
The Company is engaged
primarily in the business of financing and only in one Geographical
Segment viz. India. As such no separate Business and Geographical
reportable segment's information as per Accounting Standard
17 (Segment Reporting) has been furnished in the above results. |
| 8. |
Previous year / quarter figures are
regrouped / restated, wherever found necessary. |
| 9. |
There was no investor
complaint pending as on 30th June 2009. During the quarter
under review, one complaint was received and duly resolved. |
|
|
|
|
By order of the Board
For Magma Fincorp Limited |
Place : Kolkata - 700 016
Dated : 31st July 2009 |
Sanjay Chamria
Vice Chairman & Managing Director |
Registered Office
: Magma House, 24 Park Street, Kolkata - 700 016 |