Union Bank Of India Announces Q-1 Fy 19 Financial Results For The Quarter Ended June 30, 2018
Published on August 10, 2018
Chennai: IndoStar Capital Finance Limited (IndoStar), one of India’s leading non-banking financial companies, announced its consolidated financial results for the quarter ended June 30, 2018. The NBFC saw a 54% rise YoY in its AUM from Rs. 4,968.1 Cr to Rs. 7,640.2 Cr in Q1 FY19. The company reported a Total Income of Rs. 141.6 Cr in Q1 FY19, a rise of 31% from Rs. 107.9 Cr in Q1 FY18.
Consolidated financial update for the quarter ended June 30, 2018
Key company developments:
Commenting on the results, Mr. R. Sridhar, Executive Vice – Chairman and CEO, said, “IndoStar has created a strong branch network of 129 branches and IT infrastructure to scale the retail lending business. Once initial investment in retail business build out crosses break even, profitability metrics will considerably improve. We see a huge opportunity in Corporate Lending, Vehicle Financing, SME Financing and Housing Finance.”