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    • Magma Fincorp Q3 net up by 174% aided by new accounting

      Aided by a new accounting practice and higher interest income, Kolkata-based Magma Fincorp on Thursday reported nearly three-fold jump in its third quarter (October-December) net profit to Rs 38 crore in 2012-13.

    • Magma Q3 net fell 60% on forex loss, eyes home loans

      Kolkata-based Magma Fincorp’s third quarter (October-December) net profit fell by around 60% to Rs 14 crore as the company took a hit of Rs 5 crore forex loss. Moreover, the non-banking finance company, which earlier used to earn income from sales of loan portfolios, has reduced its exposure to securitization from 52% to 12%.

    • Magma Fincorp likely to get insurance licence next year

      The Kolkata-based retail finance player Magma Fincorp is hopeful of getting general insurance licence in the first half of the next year.

    • Magma Q1 profit falls 6%, but posts higher NIM

      Non-banking finance company Magma Fincorp June quarter net profit declined by 6% year-on-year to Rs 17.13 crore on the back of higher interest charges and absence of any one-off income component.

    • Magma Fincorp aims to grow loan disbursement by 50% in FY12

      V Lakshmi Narasimhan, CFO of Magma Fincorp, in an interview with CNBC-TV18’s Sonia Shenoy and Latha Venkatesh, said that the company intends to grow its loan disbursement by 50% in FY12. He also stated, "This year, we target to keep the net interest margins (NIMs) between 5-5.25%."

    • NBFC stocks on a roll: Will the party last long?

      Shares of non-banking finance companies are back in the limelight after the Reserve Bank of India (RBI) gave clarification on securitized loans to priority sector.

    • NBFC shares tank on expected RBI provision norms

      Shares of non-banking finance companies (NBFCs) fell 1-4% on on Wednesday on concern that the Reserve Bank of India (RBI) may hike risk weights or provision on loans to NBFCs. It would increase the cost of borrowings by those companies, which may face margin contraction.

    • Will RBI move on priority sector lending hit NBFCs?

      The Reserve Bank of India’s move to remove priority sector status for bank loans to non-banking finance companies had investors rushing to dump shares of NBFCs on Thursday.

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