IndoStar posts PAT of Rs. 64 Cr in Q2 FY19, up by 103%QoQ,driven by strong disbursement growth

IndoStar Capital Finance Limited (IndoStar), one of India’s leading non-banking financial companies, announced its consolidated financial results for the quarter ended September 30, 2018. IndoStar posted a PAT of Rs.64crs. in Q2 FY19, up 103% QoQ on the back of strong disbursements growth in its Corporate and Retail businesses.  Disbursements for this quarter wereRs. 1,302 Cr which took its AUM toRs. 7,767 Cr, 76%more than last year. The retail foray into SME Finance, Home Finance and Vehicle Finance is progressing well and its retail AUM stands at Rs. 2,900 Cr,37% of the aggregate AUM, up from 27% at the beginning of the year. IndoStar continues to demonstrate excellent Asset Quality with gross NPA at 0.9% and net NPA at 0.6% as on September 30, 2018.

pursuant to that, declared an Interim Dividend at the rate of 10% i.e. INR 1/- per equity share of the face value of INR 10/- each, for financial year 2018-19. The Record Date for the purpose of determining the entitlement of shareholders for the Interim Dividend is Wednesday, 14 November 2018.

Commenting on the results, Mr. R. Sridhar, Executive Vice- Chairman and CEO,said,“Our retailization strategy is progressing well as per plan. This quarter was very strong for us as we posted more than 100% growth in PAT compared to last quarter.Branches opened for retail business such as Vehicle Finance and Affordable Home Finance during Q4 FY 18 are now positively contributing to our growth. With comfortable liquidity position and strong operating model we are poised for the next phase of growth in our journey.”