Magma Fincorp PAT up by 18% in FY 15

Kolkata-based NBFC firm Magma Fincorp reported a PAT of Rs 54.13 crore, an increase of 18 percent over the last financial year. Net Income Margins improved during the quarter under review by 41 bps to 6.41%. The company's Loan book as on 31 March 2015 stood at Rs 19,567 crore - up 9% YOY.

"Inspite of a tough environment, emanating out of erratic cashflows in the consumer's hands; our strong focus on quality origination and realignment of product, market and customer segments, helped us record a good 41 bps yoy improvement in NIM and an impressive 18% yoy increase in PAT in Q4 FY15," said Sanjay Chamria, Vice Chairman and MD of the company.