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Whole curiosity earnings fell 3 per cent to Rs 1091 crore from Rs 1122 crore a 12 months in the past. Whereas impairment prices elevated two and a half instances to Rs 199 crore from Rs 68 crore a 12 months in the past.
The corporate nonetheless stated {that a} restoration throughout most macro-economic indicators following the second wave of the Covid-19 pandemic, aided by the elevated tempo of vaccinations and an above-normal monsoon augurs effectively for the remainder of the fiscal.
“Each month within the second quarter has seen enchancment on each enterprise development and collections. The vicious second wave seems behind us. That stated, total restoration to a brand new regular will take time. Buyer sentiment has considerably improved, and the second half of the 12 months will probably see broad-based restoration,” stated Harsha Viji, govt vice-chairman, SFL.
The corporate supplies financing for industrial automobiles, automobiles& utility automobiles, tractors and farm tools, development tools and SMEs. It additionally has insurance coverage and asset administration subsidiaries.
On a standalone foundation, disbursements for Q2 FY22 grew 14 per cent to Rs.3,621 crore up from Rs. 3,174 crore a 12 months in the past.
Property underneath administration stood at Rs.29,811 crores as on thirtieth September 2021 barely down from the Rs.29,823 crore reported on June 2021. The overall restructured belongings had been Rs.2,087 crores, about 7.17 per cent of the mortgage excellent as of thirtieth September 2021.
Gross NPA as of 30 September 2021 stood at 3.85 per cent down from 4.59 per cent as of thirtieth June 2021 however greater than the two.44 per cent reported 30 September 2020.
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