The stock is up 8 per cent intraday as operating profits jumped by 19% due to cost efficiency; analysts expect rural economy to revive going ahead
RAMESH IYER, vice-chairman and managing director of the company, tells Shreepad S Aute that NBFCs may not be able to cover the fall in loan sanctions in the second half
The NBFC reported a sharp 75 per cent year on year (YoY) decline in its standalone net profit at Rs 68 crore in the April-June quarter (Q1FY20), due to higher provisioning for stressed assets.
While the liquidity crunch continues to haunt NBFCs, Ramesh Iyer feels the current fiscal could turn out to be marginally better
Good demand from rural markets to keep loan book growth buoyant and credit cost lower
According to the company, it has a 25 per cent positive gap between assets and liabilities maturing in the next one year
The stock hit a 52-week high of Rs 461, up 5% on the BSE in early morning trade.
he brokerage does not see any upside for MMFSL stock for now
Total income increased to Rs 1,904.88 crore from Rs 1,680.10 crore in the same period a year ago