Magma Fincorp Q2 net rises 31 per cent

Net profit of asset finance company Magma Fincorp increased 31 per cent at Rs 42.43 crore during the second quarter of current fiscal as compared to the corresponding period last financial year.
Gross revenues of the company during the quarter stood at Rs 580.62 crore, 14 per cent higher than Q2 of last fiscal, the company said in a statement.
With sizeable contributions from mortgage, tractor and used assets verticals, the disbursements grew by 16 per cent in Q2 of FY15 at Rs 2550 crore. '
The company's loan book increased 13 per cent year-on-year to Rs 18836 crore and its Capital Adequacy Ratio (CAR) stood at 16.9 per cent as on September 30, 2014, the statement said.

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Accelya Kale's consolidated Q1 net at Rs 18 cr * Accelya Kale Solutions (formerly known as Kale Consultants Ltd), has recorded a consolidated net profit of Rs 17.79 crore in the quarter ended September 2014 against Rs 16.56 crore in the previous quarter.

It's operating income stood at Rs 73.55 crore for the quarter under review compared to Rs 72.78 crore in June 2014, a company statement said here.
Vipul Jain, Managing Director and CEO said, "Our performance for the quarter is in line with our expectations. The performance for next few quarters will continue to be steady."

The company provides comprehensive financial and business intelligence solutions to the airline industry.
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Muthoot Capital Services records net profit of rs 5.39 crore * Muthoot Capital Services today said it has posted a net profit of Rs 5.39 crore for the quarter ending September in 2014-15 fiscal. The net profit during the corresponding quarter last year was Rs 5.13 crore.
The total income increased to Rs 46.82 crore during the quarter ended Sept 30 2014 as compared to Rs 37.99 crore during the corresponding period last year.
The unaudited financial results of the company, part of the Muthoot Pappachan Group, reveals continued good performance, a release said.