Equitas Holdings PAT up 28%

Financial service provider Equitas Holdings has posted a growth of 28 per cent in profit after tax (PAT) of Rs 46.8 crore during the quarter ended March 31, 2016, as compared to Rs 36.5 crore during the corresponding quarter of previous financial year.

The total income stood at Rs 320.2 crore for the quarter ended March 31, 2016 as against Rs 215.3 crore during the corresponding quarter of previous year, an increase of 48.7 per cent.

For the year ended March 31, 2016, the profit after tax grew by Rs 167.1 crore, as compared to Rs 106.6 crore during previous year, a growth of 57 per cent. The total income grew by Rs 1,114.9 crore for the financial year 2016, as compared to Rs 755.9 crore during the previous year.

The company, which recently completed its IPO, said that the growth during the year has been led by healthy disbursements in key focus asset products such as microfinance, used commercial vehicle finance and micro enterprise loans.