Quarterly Result
- Unaudited Consolidated Financial Results for the Quarter Ended 30th September 2009
| Unaudited Consolidated Financial Results for the
Quarter Ended 30th September 2009 |
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(Rs. in lacs) |
| P
a r t i c u l a r s |
Quarter
Ended |
Year
To Date |
Year
Ended 31st March 2009 |
| 30th
September 2009 |
30th
September 2008 |
30th
September 2009 |
30th
September 2008 |
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Consolidated |
Standalone |
Consolidated |
Standalone |
Consolidated |
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(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
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| 1. |
Income From Operations |
16,033.32 |
13,936.22 |
28,901.67 |
26,488.84 |
57,469.34 |
| 2. |
Other Operating Income |
1,670.49 |
1,381.90 |
3,284.37 |
2,637.24 |
5,436.80 |
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Total Operating Income (A) |
17,703.81 |
15,318.12 |
32,186.04 |
29,126.08 |
62,906.14 |
| 3. |
Staff Cost |
2,860.19 |
2,622.36 |
5,235.05 |
4,689.39 |
9,992.15 |
| 4. |
Depreciation |
838.34 |
825.06 |
1,686.96 |
1,593.11 |
3,423.90 |
| 5. |
Brokerage & Commission |
1,130.34 |
1,169.99 |
2,199.46 |
2,748.25 |
4,657.35 |
| 6. |
Bad Debts Written-off |
633.43 |
430.96 |
1,600.62 |
1,177.49 |
4,151.19 |
| 7. |
Other Operative & Administrative Expenses |
1,414.88 |
1,557.82 |
2,409.51 |
2,467.34 |
5,982.41 |
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Total Operating Expenditure (B) |
6,877.18 |
6,606.19 |
13,131.60 |
12,675.58 |
28,207.00 |
| 8. |
Profit From Operations Before Other Income &
Interest (A-B) |
10,826.63 |
8,711.93 |
19,054.44 |
16,450.50 |
34,699.14 |
| 9. |
Other Income |
89.51 |
48.44 |
202.64 |
91.48 |
207.50 |
| 10. |
Profit Before Interest & Tax |
10,916.14 |
8,760.37 |
19,257.08 |
16,541.98 |
34,906.64 |
| 11. |
Interest & Finance Charges |
8,515.15 |
7,038.16 |
15,151.22 |
12,662.34 |
28,802.59 |
| 12. |
Profit Before Tax |
2,400.99 |
1,722.21 |
4,105.86 |
3,879.64 |
6,104.05 |
| 13. |
Tax Expense (Includes Deferred Tax) |
825.70 |
588.86 |
1,404.89 |
1,326.06 |
2,124.21 |
| 14. |
Profit After Tax |
1,575.29 |
1,133.35 |
2,700.97 |
2,553.58 |
3,979.84 |
| 15. |
Share of Minority Interest Profit / (Loss) |
29.78 |
- |
58.28 |
- |
17.79 |
| 16. |
Profit After Tax & Minority Interest |
1,545.51 |
1,133.35 |
2,642.69 |
2,553.58 |
3,962.05 |
| 17. |
Paid-Up Equity Capital (Face Value Rs.10/-Each) |
2,177.71 |
2,177.71 |
2,177.71 |
2,177.71 |
2,177.71 |
| 18. |
Reserves & Surplus |
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27,474.52 |
| 19. |
Earning Per Share |
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- Basic (In Rs.) |
6.17 |
4.02 |
10.28 |
9.37 |
15.04 |
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- Diluted (In Rs.) |
6.15 |
4.01 |
10.26 |
9.35 |
15.01 |
| 20. |
Public Shareholding |
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- Number Of Shares |
10,991,440 |
11,099,318 |
10,991,440 |
11,099,318 |
11,099,318 |
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- Percentage Of Shareholding |
50.47% |
50.97% |
50.47% |
50.97% |
50.97% |
| 21. |
Promotors and promotor group Shareholding |
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a) Pledged/Encumbered |
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- Number of Shares |
- |
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- % of Shares (to total shareholding of promotor and
promotor group) |
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- % of Shares (to total share capital of the Company) |
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b) Non-encumbered |
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- Number of Shares |
10,785,700 |
10,677,822 |
10,785,700 |
10,677,822 |
10,677,822 |
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- % of Shares (to total shareholding of promotor and
promotor group) |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
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- % of Shares (to total share capital of the Company) |
49.53% |
49.03% |
49.53% |
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 23rd October 2009. |
| 2] |
The Statutory Auditors have carried out the
Limited Review of the Standalone results for the quarter ended
30th September,2009 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 from this financial year
commencing from 1st April,2009, as such the corresponding
figures for the previous quarter and year to date 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 Company along with associates has entered
into a Joint Venture agreement with HDI Gerling International
Holding AG (HDI), a part of the Talanx AG Group, Germany for
undertaking General Insurance Business in India through Magma
HDI General Insurance Company Limited, subject to necessary
regulatory approvals. |
| 5] |
The consolidated financial results include results
of the subsidiaries Magma ITL Finance Limited and Magma Consumer
Finance Private Limited |
| 6] |
The consolidated financial statements have been
prepared in accordance with the Accounting Standard 21 (Consolidated
Financial Statements). |
| 7] |
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 has been withdrawn effective 1st April 2009. |
| 8] |
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. |
| 9] |
Previous year / quarter figures are regrouped
/ restated, wherever found necessary. |
| 10] |
There was no investor complaint pending as on
30th September 2009. During the quarter under review, one
complaint was received and duly resolved. |
By order of the Board
Magma Fincorp Limited |
Place : Kolkata - 700 016
Dated : 23rd October 2009 |
Sanjay Chamria
Vice Chairman & Managing Director |
| Registered Office : Magma House,
24 Park Street, Kolkata - 700 016 |
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