Will post decline in H1FY18, but confident of growth in H2FY18: Magma Fincorp

In an interview to CNBC-TV18, Kailash Baheti, CFO of Magma Fincorp spoke about the latest happenings in his company and sector.

Current festival season is not as good as the historical festival season. The goods and services tax (GST) impact is visible, he said.

There is festival demand and by end of the year we expect to get back to growth. For the year, we expect to end either flat or with a growth of marginal single digit, he added.

Speaking about non-performing assets (NPAs) he said, our complete focus has been on the quality improvement and the worst of NPAs is behind us and we expect that going forward our NPA ratio should look better.