Equitas Holdings elevates S Bhaskar as Executive Director, CEO

Financial service provider Equitas Holdings has elevated its Chief Financial Officer S Bhaskar as its new Executive Director and CEO.

Further, the company said it has appointed S Vasudevan as CFO in place of Bhaskar.

"Bhaskar has been appointed as Executive Director and CEO with effect from October 21. S Vasudevan has been appointed as Chief Financial Officer of the company in place of Bhaskar," the company said in a BSE filing.

The Chennai-based company's Profit After Tax(PAT) during the quarter grew by 16 per cent to Rs 46.40 crore as compared to Rs 39.40 crore in the year-ago period.

Its net interest income also increased by 40 per cent to Rs 200.60 crore during the quarter under review from Rs 142.80 crore a year ago.

"We had a reasonable quarter. Assets Under Management of September 30, 2016 grew by 45 per cent on year-on-year basis along with a 16 per cent growth in profits," Bhaskar said.

"As we have transformed into the Bank, we continue to remain focused on the segments not sufficiently serviced by the mainstream financial system," he said.