Indostar Capital Finance’s Disbursements Recovering; Share Of Corporate Loans Declines: Motilal Oswal
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Motilal Oswal Report
Indostar Capital Finance Ltd.’s Q3 FY21 profit after tax was down ~25% QoQ to Rs 242 million.
While operating profit was up 42% QoQ owing to a stronger topline and lower opex, a spike in provisions (Rs 459 million versus Rs 87 million) led to lower profit after tax.
Total disbursements picked up to 75% of YoY levels to Rs 6.6 billion.
Retail lending disbursements also improved to 80% of YoY levels to Rs 4.8 billion, led by housing and small and medium enterprise finance, while vehicle finance disbursements remained tepid.
Collection efficiency improved to 137% in December 2020 from 92% in September 2020.
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