Arman Financial Services Ltd Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012
January 25, 2013 at 05:02 pm
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Arman Financial Services Ltd. reported unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported total operating income of INR 45.011 million compared to INR 41.468 million a year ago. Profit from operations before other income finance costs and exceptional items was INR 28.419 million compared to INR 29.438 million a year ago. Profit from ordinary activities before tax was INR 11.492 million compared to INR 9.927 million a year ago. Net profit for the period was INR 7.870 million or INR 1.15 per diluted share before and after extraordinary items compared to INR 6.741 million or INR 1.65 per diluted share before and after extraordinary items a year ago.
For the nine months period, the company reported total operating income of INR 124.507 million compared to INR 124.901 million a year ago. Profit from operations before other income finance costs and exceptional items was INR 80.554 million compared to INR 81.624 million a year ago. Profit from ordinary activities before tax was INR 40.534 million compared to INR 44.803 million a year ago. Net profit for the period was INR 27.898 million or INR 4.23 per diluted share before and after extraordinary items compared to INR 30.188 million or INR 7.40 per diluted share before and after extraordinary items a year ago.
Arman Financial Services Limited is an India-based holding company. The Company is a non-banking finance company (NBFC). The Company operates through the Financing segment. The Company provides lending services primarily in the two-wheeler, micro-enterprise (MSME), and microfinance segments. It provides finance for all models of motorcycles, mopeds, scooterettes and scooters of Hero, Honda, Bajaj, TVS, HMSI, Suzuki, Yamaha, & Royal Enfield. It operates serves niche rural markets in Gujarat, Madhya Pradesh, Uttar Pradesh, Maharashtra, Uttarakhand, Rajasthan, Haryana, and Bihar through a distribution network of 336 branches, 55+ two-wheeler dealerships spread across 120 districts in eight states serving 6.2 lakh customers. It also focuses on small ticket retail loans to the large underserved informal segment customer in rural and semi urban geographies. The Microfinance division is operated through its wholly owned subsidiary, Namra Finance Ltd.