Kolkata-based Magma Fincorp a retail finance company's Profit after tax (PAT) increased 161 per cent during the current financial year at Rs 17.9 crore as compared to Rs 6.87 crore in the same period previous fiscal.
Disbursements during the period increased 19 per cent to Rs 1,049 crore, while, revenue increased 15 per cent to Rs 182 crore.
Vice-chairman and managing director of Magma Sanjay Chamria said that market conditions had improved and outlook for the fourth quarter was good.
He said that net interest margin (NIM) during the third quarter stood at 5.6 per cent.
Assets under management (AUM) as on December 31, 2009 stood at Rs 9,390 crore.
Tractor financing was the most profitable business of the financing company.
