Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
||
|
|
||
|
Corporate Results
-
NBFCs Money & Banking - Financial Performance Magma Leasing clocks 330 pc rise in Q3 net Our Bureau
Kolkata , Jan. 29 MAGMA Leasing Ltd (MLL) clocked a hefty 330 per cent growth in its net profit for the quarter ended December 2003 at Rs 7.65 crore (Rs 1.78 crore for the same quarter of last fiscal). It is well poised to exceed its projected annual business plan target of Rs 800 crore by March 31. Talking to Business Line here on Thursday, after announcing the third quarter results of the company, Mr Sanjay Chamria, Managing Director, said, ``we are truly on course to sign off 2003-04 with a business growth of over 60 per cent at Rs 882 crore.'' Attributing the sustained bottomline growth of Magma to effective churning of portfolios through a ``de-risking business model'' and concentrating totally on the asset side, he said the company, with strong presence in North and East, had already chalked out plans to emerge as an all-India player in the retail financing business. ``Our aim is to clock 50 per cent growth in the next three years".
More Stories on : NBFCs | Financial Performance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|