The company’s assets under management surged 42% year-on-year to Rs 1.20 lakh crore, out of which gold loan portfolio was Rs 1.13 lakh crore. Its total income grew 54% at Rs 5720 crore.
The company set aside Rs 43 crore in the quarter to cover credit risk which was sharply lower as compared to Rs 224 crore in the year ago period.
The group’s consolidated net profit stood at Rs 1974 crore against Rs 1196 crore. This was lower than the standalone profit, since its 66% subsidiary Belstar Microfinance incurred a Rs 128 crore loss.
Belstar’s AUM stood at Rs 7,707 crore at the end of June, contracted from Rs 7980 crore three months back. The AUM was at Rs 10023 crore as on March 31, 2024. Its gross non-performing assets ratio was at 4.44% at the end of June.
