Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 21, 2002 |
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Money & Banking
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NBFCs Corporate Results - NBFCs Lakshmi General Fin net rises Our Bureau
CHENNAI, June 20 LAKSHMI General Finance (LGF) has reported a net profit of Rs 12.60 crore (Rs 11.36 crore) for 2001-2002. A company press release said that the total disbursement under the company's core business of Hire Purchase/Loan was higher by 25.27 per cent at Rs 335.19 crore as against Rs 267.58 crore in the previous year. The company paid interim dividends aggregating to 60 per cent, absorbing a sum of Rs 3.97 crore inclusive of dividend tax. Its capital adequacy ratio was above 17 per cent. The net non-performing assets ratio was at 2.25 per cent as of March 2002. The company proposes to go in for a rights offer to raise Rs 6 crore. The company proposes the issue of 10,00,000 equity shares of Rs 10 each in the ratio of 1 share for every 6 shares held at a premium of Rs 50 per share. The proceeds from the issue, together with the expected transfer to reserves during the current year, are expected to see the company's owned funds (currently at Rs 84.72 crore) cross Rs 100 crore mark as on March 31, 2003.
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