“Assets under Management crosses Rs.50,000 Cr”
Chennai, January 30, 2019: The Board of Directors of CIFCL today approved the un-audited financial results for the quarter/nine months ended 31st December 2018.
Highest ever quarterly PAT of ₹ 304 Cr.
Highest ever YTD PAT of Rs. 894 Cr.
Total income of Rs. 1,831 Cr
Total income of Rs. 5,120 Cr
Interim Dividend: The Board of Directors of the Company declared an Interim dividend of 45% being ₹ 4.5 per share on the equity shares of the Company, for the year ending March 31, 2019.
Asset Quality CIFCL continues to demonstrate strong asset quality and be able to reduce the Stage 3 receivables from 4.3% on Dec 17 to 3.3% in Dec’18 (under IND AS). As per the traditional IGAAP approach also the GNPA levels reduced from 3.7% on Dec 17 to 2.7%. A brief comparison under both IGAAP and IND AS is also given.
Capital Adequacy: The Capital Adequacy Ratio (CAR) of the company as on 31st December 2018, was at 17.83% as against the regulatory requirement of 15%. The Tier I capital was at 13.09% as against the regulatory requirement of 10%.
Executive Director Comments: Commenting on the quarterly results, Arun Alagappan, Executive Director, stated “Growth in disbursements of 26% against the previous year is a significant achievement considering the sluggish performance of the market. Going forward, we see significant opportunities in the two-wheeler & personal vehicle segment and expect these to be strong growth drivers. We also plan to deepen our presence in newer geographical areas by expanding to more than 1000 branches by the end of the year.
This quarter, the company achieved the highest after-tax profit of ₹ 304 crores which is expected to improve in the periods to come, by a continued focus on reduction of operating cost & a shift towards higher yield segments.
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