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Magma Fincorp, a Mumbai-based asset finance company, has posted a 28.27 per cent rise in net profit at ₹304 crore for the financial year ended March 31, 2019, compared to ₹237 crore in the same year-ago fiscal.
The growth came on back of a 20 per cent disbursement growth, sharp decline in non-performing assets (NPAs), and stable Net Interest Margins (NIMs), the company said in a statement.
NIMs stayed healthy at 8.5 per cent in FY19. Assets under management (AUM) rose by 7.8 per cent year-on-year to ₹17,029 crore.
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