MAS Financial Services Consolidated AUM Crosses 9500 Crore During the Quarter; PAT up by 20.98% to 61.94 in Q2FY24
Thursday, 2 November 2023
· 114 Quarters of Consistent Financial Performance
· Strong growth of 27% in AUM
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 September 2023.
The consistent financial performance 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 *2558.22 Crore during the quarter ended 30^th September 2023.*
*Performance Highlights - (Consolidated)*
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of Rs. 9547.07 Crore and profit after tax (PAT) of Rs. 61.94 Crore for the quarter ended 30^th September 2023 from Rs. 7518.04 Crore and Rs. 51.20 Crore respectively for the quarter ended 30^th September 2022.
· A Growth of* 26.99% *in AUM and* 20.98% *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 Rs. 9046.19 Crore and profit after tax (PAT) of Rs. 60.01 Crore for the quarter ended 30^th September 2023 from Rs. 7138.11 Crore and Rs. 48.75 Crore respectively for the quarter ended 30^th September 2022. The AUM as on 31^st March 2023 was Rs. 8092.56 Crore.
· A Growth of* 26.73% *in AUM and* 23.10% *in PAT over the corresponding period of the previous year.
· Capital Adequacy Ratio (including Tier II capital) as of 30^th September 2023 stood at* 25.17%. *The Tier-I capital stood at* 21.17%. *
· The portfolio quality remained stable and strong *at 2.17% gross stage 3 assets and 1.47% net stage 3 assets of AUM as compared* to* 2.13% *gross stage 3 assets and* 1.47% *net stage 3 assets of AUM as on 30^th June 2023.
· The company continues to carry a management overlay of *Rs.** 18.79 crore* as on 30^th September, 2023, *0.27% *of the total on book assets.
( in Crore)
*Particulars*
*Q224*
*Q223*
*YoY*
*H124*
*H123*
*YoY*
*FY 23*
Assets Under Management
9046.19
7138.11
26.73%*↑*
9046.19
7138.11
26.73%*↑*
8092.56
Total Income
298.16
229.58
29.87%*↑*
578.23
427.37
35.30%*↑*
949.09
Profit Before Tax
80.02
65.00
23.11%*↑*
155.82
126.71
22.97%*↑*
264.70
Profit After Tax
60.01
48.75
23.10%*↑*
117.26
94.86
23.61%*↑*
200.96
( in Crore)
*Asset Under Management (AUM)**
*September-23*
*September-22*
*YoY*
Micro-Enterprise loans
4260.43
3589.71
18.68%*↑*
SME loans
3232.86
2671.58
21.01%*↑*
2-Wheeler loans
623.93
469.83
32.80%*↑*
Commercial Vehicle loans
556.53
273.56
103.44%*↑*
Salaried Personal Loans**
372.44
133.43
179.13%*↑*
*TOTAL AUM*
*9046.19*
*7138.11*
*26.73%**↑*
*Represents underlying assets in each of the categories. As on 30^th September 2023 36.55% of the total underlying assets is through various NBFCs.
· New Product Segment
*Performance Highlights - **MAS** Rural Housing and Mortgage Finance Limited (Standalone)*
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of Rs. 500.87 Crore and profit after tax of Rs. 1.90 Crore for the quarter ended 30^th September 2023 from Rs. 379.93 Crore and Rs. 2.53 Crore respectively for the quarter ended 30^th September 2022.
· A growth of* 31.83% *in AUM over the corresponding period of the previous year.
· Capital Adequacy Ratio (including Tier II capital) as of 30^th September, 2023 stood at* 35.24%. *The Tier-I capital stood at* 26.24%.*
· The portfolio quality remained stable and strong at *0.79%* gross stage 3 assets and *0.55% *net stage 3 assets of AUM as compared to *0.71% *gross stage 3 assets and *0.50%* net stage 3 assets of AUM as on 30^th June 2023.
· The company continues to carry a management overlay of *Rs.** 3.00 crore* as on 30^th September 2023, *0.76% *of the total on book assets.
( in Crore)
*Particulars*
*Q224*
*Q223*
*YoY*
*H124*
*H123*
*YoY*
*FY 23*
Assets Under Management
500.87
379.93
31.83%*↑*
500.87
379.93
31.83%*↑*
413.34
Total Income
14.74
11.67
26.36%*↑*
28.35
20.44
38.69%*↑*
43.75
Profit Before Tax*
2.47
3.26
24.44%*↓*
4.48
4.59
2.33%*↓*
8.09
Profit After Tax*
1.90
2.53
24.78%*↓*
3.49
3.54
1.22%*↓*
6.34
*- Contraction in profit by 0.63 Crores due to higher operating expenditure YoY on account of expansion in branch network & increase in employee count
Commenting on the performance, *Mr. Kamlesh Gandhi - Founder, Chairman & Managing Director, **MAS Financial* said, "The strong and consistent compounding performance demonstrated across cycles over two and half decades, with very strong fundamentals forms the base for the robust and large scale growth of the company thus creating value for all its stake holders going forward. Team MAS remains committed to its mission of excellence through endeavors."
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