MAS Financial Reports Robust Growth in Q2 2024

MAS Financial Services posted significant growth for the quarter ending September 2024. The company reported a 22.35% increase in Assets under Management (AUM) and a 25.31% rise in Profit after Tax (PAT) compared to the same quarter in 2023, highlighting strong fundamentals and stable asset quality.

Ahmedabad, India – MAS Financial Services Limited has unveiled its unaudited financial results for the quarter ending September 30, 2024, showcasing exceptional performance indicators. The company, specializing in MSME financing, demonstrated a 22.35% growth in Assets under Management (AUM) and a 25.31% increase in Profit after Tax (PAT) on a consolidated basis compared to the previous year.

A notable surge in business activities across various segments was observed during the quarter, with consolidated disbursements reaching Rs. 3082.53 Crores. Standalone figures also mirrored this growth, reporting an AUM of Rs. 11016.65 Crores and a PAT of Rs. 76.57 Crores, marking a 21.78% and 27.60% growth, respectively, year-on-year. The Capital Adequacy Ratio stood robust at 26.52%.

MAS Rural Housing and Mortgage Finance Limited also showed remarkable progress with a 32.67% increase in AUM and a 24.63% rise in PAT. Portfolio quality remained stable with low gross and net Stage 3 asset percentages. Mr. Kamlesh Gandhi, the founder, emphasized the company's commitment to sustainable growth and asset management excellence.

(With inputs from agencies.)