Equitas Holdings posts strong Q2; NII up 40%

Chennai based micro-finance lender, Equitas Holdings has posted an excellent set of numbers when it posted its second quarter earnings on Friday, October 21, 2016 post market closing. Profit after Tax has grown by 16% to Rs. 46.4 crore for the quarter ended September 30, 2016 as against Rs.39.4 crore for the corresponding quarter of last year.

Total income during the quarter has surged 46.2 per cent to Rs 384.5 crore and calculated net interest income  (NII) has jumped 28.8 per cent to Rs 199.8 crore compared with year-ago period.

Other income has increased significantly to Rs 38.4 crore in the quarter ended September 2016 compared with Rs 0.5 crore in corresponding period of last fiscal.

The assets under management have grown 45 per cent to Rs 7,079 crore compared to Rs 4,892 crore posted during the corresponding quarter of last year.

"We had a reasonable quarter. AUM as of September 16 grew by 45 per cent on a YoY basis along with a 16 per cent growth in profits for the quarter on a YoY basis. However, if we calculate PAT excluding One-time impact of bank transition costs, the growth in PAT is 50 per cent on a YoY basis," said S. Bhaskar, executive director and CEO, Equitas Holdings Ltd.