IndoStar Capital Finance Limited (IndoStar), one of India’s leading non-banking financial companies, announced its consolidated financial results for the quarter ended June 30, 2018. The NBFC saw a 54% rise YoY in its AUM from Rs. 4,968.1 Cr to Rs. 7,640.2 Cr in Q1 FY19. The company reported a Total Income of Rs. 141.6 Cr in Q1 FY19, a rise of 31% from Rs. 107.9 Cr in Q1 FY18.
Consolidated financial update for the quarter ended June 30, 2018
Key company developments:
Commenting on the results, Mr. R. Sridhar, Executive Vice – Chairman and CEO, said, “IndoStar has created a strong branch network of 129 branches and IT infrastructure to scale the retail lending business. Once initial investment in retail business build out crosses break even, profitability metrics will considerably improve. We see a huge opportunity in Corporate Lending, Vehicle Financing, SME Financing and Housing Finance.”
(Please note: All financial numbers as per IGAAP)
About IndoStar Capital Finance Limited
IndoStar Capital Finance Ltd. (IndoStar) is a professionally managed and institutionally owned organization, which offers structured term financing solutions for corporates, and loans to small and medium enterprise (“SME”) borrowers in India. It has recently expanded its portfolio to offer vehicle finance and housing finance products through its network of 129 branches. The housing finance business is operated through IndoStar’s wholly-owned subsidiary IndoStar Home Finance Private Limited, which commenced operations in September 2017. IndoStar has experienced strong growth since the commencement of operations in 2011.