Motilal Oswal: Indostar - Loan Book Running Down; Sale of GNPLs To Asset Reconstruction Company
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Motilal Oswal Report
Indostar Capital Finance Ltd. reported Q2 FY21 profit after tax of Rs 316 million (down 35% QoQ and YoY).
The quarter was characterised by continued run-down of the loan book and sale of vehicle finance gross non-performing loans to an asset reconstruction company, resulting in lower GNPL ratio.
The company continues to ‘retailise’ its balance sheet with share of retail asset under management at 74% (versus 66% YoY).
Management targets to achieve 100% retailisation over the next 12-15 months.
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