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Magma Fincorp Ltd has reported a net profit of Rs 47.43 crore during the second quarter of 2015-16 against a net profit of Rs 34.48 crore in the corresponding quarter last fiscal. Total income from operations during the quarter stood at Rs 526.13 crore (Rs 492.60 crore).
It made Rs 11.22 crore lower provision for NPA as RBI changed the norms. The NBFC said that it was carrying additional NPA provision worth Rs 56.85 crore over the compliance provisioning figure.
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