Aavas Financiers Q4 Review - Strong Pickup In Disbursements; Asset Quality Healthy: Motilal Oswal
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Motilal Oswal Report
Aavas Financiers Ltd.’s Q4 FY21 profit after tax grew 46% YoY to Rs 876 million (16% beat).
While operating profit missed our estimates by 8% (due to one-offs), lower-than-expected credit costs and tax rate led to the profit after tax beat.
Contrary to initial expectations, the company had a healthy FY21, with 21% YoY assets under management growth, only an approximate 50 basis point increase in the gross non-performing loan ratio, and healthy return on asset of 3.5%.
Net interest income/ profit after tax grew 20%/16% YoY in FY21.
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