Aavas Financiers Ltd’s net profit jumps 11% to Rs 49 cr for Q1FY21

New Delhi: Aavas Financiers Ltd’s consolidated net profit jumped 11 percent at Rs 49 crore in the first quarter of the current fiscal as compared to Rs 45 crore in the corresponding quarter of the previous fiscal year.

The consolidated total income jumped 18 percent to Rs 233 crore in the first quarter of the current fiscal as compared to Rs 197 crore in the corresponding quarter of the previous fiscal year.

The assets under management (AUM) increased 25 percent to Rs 7,935 crore as on 30 June 2020 as compared to Rs 6,362 crore at the end of June 2019, the company said in a regulatory filing. 

The loan disbursements by the company declined 68 percent to Rs 213 crore in the first quarter of the current fiscal as compared to Rs 671 crore in the corresponding quarter of the previous fiscal year.

The company’s gross NPAs stood at 0.46 percent in the first quarter of the current fiscal. 

Aavas Financiers Ltd has made an additional provision of Rs 4.6 crore for potential effect of corona.

 

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