MAS Financial Services Limited Consolidated AUM Crosses 8800 Crore During Q1FY24
Wednesday, 2 August 2023
The Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, announced today the unaudited financial results for the quarter ended 30^th June 2023.
The consistent financial performance during all the past turbulent period is the testimony of the strong fundamentals of the company, which has been followed over more than two decades. We witnessed a healthy growth in business activities across the segments we serve during the quarter. The consolidated disbursement was 2334.50 Crore during the quarter ended 30^th June 2023.
*Performance Highlights - (Consolidated)*
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of 8867.94 Crore and profit after tax (PAT) of 57.56 Crore for the quarter ended 30^th June 2023 from 7025.14 Crore and 45.91 Crore respectively for the quarter ended 30^th June 2022.
ยท A Growth of* 26.23% *in AUM and* 25.38% *in PAT over the corresponding period of the previous year.
*Performance Highlights - MAS Financial Services limited (Standalone)*
MAS Financial Services Limited reports Assets under Management (AUM) of 8417.85 Crore and profit after tax (PAT) of 57.25 Crore for the quarter ended 30^th June 2023 from 6683.92 Crore and 46.11 Crore respectively for the quarter ended 30^th June 2022. The AUM as on 31^st March 2023 was 8092.56 Crore.ยท A Growth of* 25.94% *in AUM and* 24.16% *in PAT over the corresponding period of the previous year.
ยท Capital Adequacy Ratio (including Tier II capital) as of 30^th June 2023 stood at* 25.31%. *The Tier-I capital stood at* 21.11%. *
ยท The portfolio quality remained stable and strong *at 2.13% gross stage 3 assets and 1.47% net stage 3 assets of AUM as compared* to* 2.15% *gross stage 3 assets and* 1.52% *net stage 3 assets of AUM as on 31^st March 2023.
ยท The company continues to carry a management overlay of *** 21.46 crore* as on 30^th June, 2023, *0.32% *of the total on book assets.( in Crore)
*Particulars*
*Q124*
*Q123*
*YoY*
*FY 23*
Assets Under Management
8417.85
6683.92
25.94%*โ*
8092.56
Total Income
280.07
197.79
41.60%*โ*
949.09
Profit Before Tax
75.80
61.71
22.83%*โ*
264.70
Profit After Tax
57.25
46.11
24.16%*โ*
200.96( in Crore)
*Asset Under Management (AUM)**
*June-23*
*June-22*
*YoY*
Micro-Enterprise loans
4021.20
3462.49
16.14%*โ*
SME loans
3074.80
2443.21
25.85%*โ*
2-Wheeler loans
570.86
386.43
47.73%*โ*
Commercial Vehicle loans
448.39
332.45
34.87%*โ*
Salaried Personal Loans
302.60
59.34
New Product introduced in June-22
*TOTAL AUM*
*8417.85*
*6683.92*
*25.94%**โ**Represents underlying assets in each of the categories. As on 30^th June, 2023 37.18% of the total underlying assets is through various NBFCs.
*Performance Highlights - MAS Rural Housing and Mortgage Finance Limited (Standalone)*
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of 450.10 Crore and profit after tax of 1.59 Crore for the quarter ended 30^th June 2023 from 341.22 Crore and 1.01 Crore respectively for the quarter ended 30^th June 2022.
ยท A growth of* 31.91% *in AUM and of *57.97% *in PAT over the corresponding period of the previous year.
ยท Capital Adequacy Ratio (including Tier II capital) as of 30^th June, 2023 stood at* 39.00%. *The Tier-I capital stood at* 28.86%.*
ยท The portfolio quality remained stable and strong at *0.71%* gross stage 3 assets and *0.50% *net stage 3 assets of AUM as compared to *0.70% *gross stage 3 assets and *0.52%* net stage 3 assets of AUM as on 31^st March 2023.
ยท The company continues to carry a management overlay of *** 3.12 crore* as on 30^th June, 2023, *0.87% *of the total on book assets.
( in Crore)
*Particulars*
*Q124*
*Q123*
*YoY*
*FY 23*
Assets Under Management
450.10
341.22
31.91%*โ*
413.34
Total Income
13.61
8.78
55.08%*โ*
43.75
Profit Before Tax
2.02
1.33
51.97%*โ*
8.09
Profit After Tax
1.59
1.01
57.97%*โ*
6.34
Commenting on the performance,* Mr. Kamlesh Gandhi - Founder, Chairman & Managing Director, **MAS Financial *said, "The continuous and consistent performance of the company demonstrated during this quarter is the function of the strong fundamentals and a very prudent approach of "Extending credit where it is due". We visualize a very strong and consistent growth going forward continuing our legacy of more than two decades."
Team MAS remains committed to its mission of excellence through endeavors.
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