Five Star Business Finance Ltd. standalone net profit for the quarter ended December rose 28% to ₹151 crore from the year-earlier period, due to strong growth in disbursements and collection efficiency.
During the quarter, revenue from operations grew to ₹387 crore from ₹317 crore. Net interest income was ₹958 crore (₹725 crore) while net interest margin stood at 18.55%, it said in a regulatory filing.
Gross non-performing asset rose to 1.45% from 1.27%, while net NPAs decreased to 0.81% from 0.83%, it said in investors presentation.
Assets Under Management (AUM) grew by 31% to ₹6,242 crore while disbursements were up by 114% to ₹910 crore. Provision coverage on Stage 3 assets stood at 44.78% and the provision coverage on the overall portfolio was 1.66%. Capital adequacy remained at 68.03%.
“Five Star witnessed another good quarter in Q3 with both business and collections momentum being robust. We added 69 branches resulting in a strong branch network of 369 branches to deliver quality service to our customers,” said Lakshmipathy Deenadayalan, CMD.
