 "Chhattisgarh on priority in Magma Fincorp's expansion plan")
Magma Fincorp hit 52-week high of Rs 138, up 9% on BSE, after the company’s assets quality improved for the quarter ended March 2017 (Q4FY17) on sequential basis.
In Q4FY17, the non-banking finance company (NBFC) reported a loss of Rs 122 crore, mainly due to substantial cleanup of the old non-performing assets (NPA).
Loss on account of NPA sale of Rs 678 crore impacted the net profit by Rs 145 crore. However, the gross and net NPA ratios improved sharply to 6.7% and 5.6% respectively as on 31 March 2017 against 9.9% and 7.5% as on 31 December
In Q4FY17, the non-banking finance company (NBFC) reported a loss of Rs 122 crore, mainly due to substantial cleanup of the old non-performing assets (NPA).
Loss on account of NPA sale of Rs 678 crore impacted the net profit by Rs 145 crore. However, the gross and net NPA ratios improved sharply to 6.7% and 5.6% respectively as on 31 March 2017 against 9.9% and 7.5% as on 31 December
